Buying a Multi-Family in Inman Square

There’s quite a wide range when it comes to multi-families in Inman Square. This is a very interesting part of Cambridge because there is a mix of two and three families as well as some larger 4 to 12 unit properties. There are also a good chunk of 3+ multi-families that are mixed use with commercial on the first floor and residential on the upper floors. 

Generally rental numbers (and as a result sales numbers) are high close to Inman Square. As you move towards East Cambridge on Cambridge Street, rental and sales numbers tend to go down, so keep this in mind as you evaluate properties in the Inman Square area.

I would advise buyer clients to pay particular attention to layouts in Inman Square. Why? There are quite a few multi-families here with low ceilings or “bedrooms” that can only fit a twin bed. You have to be careful when evaluating the rental numbers for these property types - the reality is rooms with twin beds are not seen as bedrooms by most renters and the result is lower rental numbers. Lower rental numbers means the property is worth less, so if you are counting bedrooms that most renters don’t count as bedrooms, you are likely adding to much value to a property where the value may not exist. 

If you are thinking of buying a multi-family around Inman Square, Cambridge and want to ensure you don’t overpay and make a “good buy”, give me a call and I am happy to talk through your investment goals! My cell is 617-833-7457.