Need a REALTOR® for your
Salem investment property?
OutofTownLandLord connects you with the Salem area’s very best property investment specialists. A licensed, experienced, dedicated REALTOR® who will deliver stunning results and stellar service. Learn about the REALTOR® and the Salem market below.
Dana Bull, REALTOR®
Greater Salem Investment Specialist
State: Massachusetts
Counties: Essex, Suffolk, Middlesex South, Suffolk
Cities and Towns: Boston, Malden, Medford, Salem, Beverly, Swampscott, Peabody, Marblehead
Licensed Since: 2015
Company: Sagan Harborside Sotheby’s International Realty
About Dana Bull
Dana Bull is a REALTOR®, landlord, and investor with a sweet spot for old homes. She started buying property right out of college and collected a couple dozen apartments in the Boston area before her 28th birthday. Now she’s dedicated to helping first-time homebuyers and investors make smart real estate purchases in the Greater Boston Area. Her work has been featured in Business Insider, USA Today, CNBC, Forbes, Bigger Pockets, and more. Dana is an active real estate agent with Sagan Harborside Sotheby’s International Realty and a columnist for the Zillow Group.
About the Salem Market
Market Overview
Boston and the neighborhoods north of Boston are consistently named a “Best Place to Live” and hold a steady track record for appreciation. These communities are all in close proximity to some of the nation’s best schools, medical institutions, and job opportunities.
Culture
Boston and the surrounding north shore communities offer a little something for everyone – a rich history, quality museums, thriving downtown areas, and some very dedicated sports fans! These neighborhoods attract high caliber tenants who value unique lifestyles and in many cases are willing to pay a premium to be in a top-notch location.
Affordability
In terms of housing, the barrier to entry is much lower for multi-families outside of the city than Boston proper. Buyers can nab a charming multi-family for a fraction of Boston pricing.
Education
Home to a variety of private colleges and state universities, Boston and the north shore has a growing student population and high demand for housing.
Commuter options
Downtown Boston is a walkable and commuter friendly area. Commuters outside of the city can hop on the “T” or a train to North Station from a variety of the surrounding communities. Salem, MA also offers a high-speed ferry.
Housing Stock
Featuring some of the oldest housing inventory in the country, the real estate is certainly distinctive. While inventory for small multi-families is limited across many states in the US, the Boston area boosts some real gems.
INVESTMENT PRICE POINTS IN the Salem Market
In this market, many of the small multi-family properties (R2-R4) come with deferred maintenance. They present unique value-add opportunities. Price points for a two-family start around $300,000, but there is a wide spectrum based on conditions and neighborhood. Positive cash flow is difficult to maintain with just a two-family, but they are an excellent entry-level investment for first-time investors/buyers looking to offset a mortgage. Cash flow is more easily attained with a three or four unit building, however most require upfront capital improvements and stabilization costs.
Entry Level: $300,000-$500,000
Mid Level: $500,000-750,000
Upper Level $750,000-1 Mill+
Free Report: Demographic and Housing Data on the Salem Market
Would you like free demographic and housing data on the Salem market? The report includes information on schools, income, employment, crime, average sale prices, fair market rents and more. You can get reports on the whole market or zero in on a specific zip code.
This report has all the info you need to help you decide if the Salem market is right for you! Click here to get your free report.
