Score
0Charlestown, MA
42 8th St APT 1520
993K
2 beds
2 baths
1,333 sqft
2 bd • 2 ba • 1,333 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$992,900
Price/Sq.Ft
$745
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property boasts a prime location in Charlestown, MA, with a spacious rooftop deck offering panoramic views and outdoor living space. At 1,333 sqft, it's 11% larger than the average two-bedroom apartment in the area (typically around 1,200 sqft). The price of $992,900 translates to $744.86/sqft, which is competitive for the Charlestown market where luxury properties can exceed $800/sqft. The median income of $140,534 in the area suggests a strong local economy, supporting property values. Current rental rates for a two-bedroom in the area are $3,540/month, indicating a potential gross rental yield of 4.3% if the property were to be rented out.
The Bad
The property's price point of $992,900 is 30% higher than the median home value in Charlestown (approximately $762,000 as of 2023), which may limit the pool of potential buyers. The lack of listed features and property description makes it difficult to assess the interior quality and amenities. The building's age is unknown, which could imply potential maintenance issues or outdated systems. The price per square foot ($744.86) is relatively high, even for Charlestown, suggesting either premium finishes or possibly overpricing.
The Ugly
The property lacks crucial information about its features, utilities, and systems, which raises red flags about potential hidden issues or deferred maintenance. The high price point combined with limited information could make financing challenging, as lenders may require additional documentation. The rooftop location of the outdoor space may lead to higher maintenance costs due to weather exposure. There's no mention of parking, which is a significant concern in Charlestown and could greatly impact the property's value and livability.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for affluent professionals or couples with a household income of $200,000+ (based on a 28% front-end DTI ratio for a 30-year mortgage with 20% down). It's ideal for those prioritizing location and outdoor space over interior amenities. The rooftop deck makes it perfect for entertainers or those who value private outdoor areas in an urban setting. Investors looking for short-term rentals could capitalize on the tourist appeal of Charlestown, potentially achieving higher yields than the long-term rental market.
Not For
This property is not suitable for first-time homebuyers or those with incomes below $200,000 due to the high purchase price and potential for additional costs. Families with children may find the two-bedroom layout limiting. It's not ideal for those seeking a low-maintenance property, as the rooftop deck likely requires regular upkeep. Buyers looking for historic charm or period features may be disappointed, as the property appears to be in a more modern building.
Demographics
Area Median Income
$140,534
Property History
Price History
Ownership Timeline
$875,000Financed
Mar 12, 2021Kawin SetsompopMark A Gallagher, Laura E Gallagher
Quit Claim Deed
Standard Sale (Purchase/Resales)
$500,000Financed
Jan 1, 1970Parris Landing Condo, Melvyn KramerKawain Setsompop
Deed
Standard Sale (Purchase/Resales)
$660,062Financed
Jan 1, 1970Carlyle Cq Boston Gp L, Carlyle Cq Boston LpAndrew Kramer, Melvyn Kramer
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$3,540
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$992,900
Price/sqft
$745
Layout
2 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,144,167
13.2%
Your price is 13.2% below average
Median Price
$1,240,000
19.9%
Based on 6 recent sales
Price per Sq.Ft
$895
16.8%
Your price is 16.8% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 40 Mount Vernon #2, Boston, MA 02129 | $1,316,000 | 1,371 | 3 | 2 | $96028.9% | 10/31/2024 |
| 234 Causeway St. #1209, Boston, MA 02114 | $1,240,000 | 1,233 | 2 | 2 | $1,00635.0% | 11/7/2024 |
| 39 Soley Street #2, Boston, MA 02129 | $1,199,000 | 1,348 | 3 | 2 | $88919.4% | 10/2/2024 |
| 100 Lovejoy Wharf #10B, Boston, MA 02114 | $1,419,000 | 1,256 | 2 | 2 | $1,13051.7% | 10/18/2024 |
| 2 Hawthorne Pl #6M, Boston, MA 02114 | $792,000 | 1,285 | 2 | 2 | $61617.3% | 10/8/2024 |
| 58 Chappie St #2, Boston, MA 02129 | $899,000 | 1,167 | 2 | 2 | $7703.4% | 11/6/2024 |
40 Mount Vernon #2, Boston, MA 02129
Price: $1,316,000
Sq.Ft: 1,371
Beds/Baths: 3/2
$/Sq.Ft:
$96028.9%
Sale Date: 10/31/2024
234 Causeway St. #1209, Boston, MA 02114
Price: $1,240,000
Sq.Ft: 1,233
Beds/Baths: 2/2
$/Sq.Ft:
$1,00635.0%
Sale Date: 11/7/2024
39 Soley Street #2, Boston, MA 02129
Price: $1,199,000
Sq.Ft: 1,348
Beds/Baths: 3/2
$/Sq.Ft:
$88919.4%
Sale Date: 10/2/2024
100 Lovejoy Wharf #10B, Boston, MA 02114
Price: $1,419,000
Sq.Ft: 1,256
Beds/Baths: 2/2
$/Sq.Ft:
$1,13051.7%
Sale Date: 10/18/2024
2 Hawthorne Pl #6M, Boston, MA 02114
Price: $792,000
Sq.Ft: 1,285
Beds/Baths: 2/2
$/Sq.Ft:
$61617.3%
Sale Date: 10/8/2024
58 Chappie St #2, Boston, MA 02129
Price: $899,000
Sq.Ft: 1,167
Beds/Baths: 2/2
$/Sq.Ft:
$7703.4%
Sale Date: 11/6/2024
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