masterkey logo
1644 Dorchester Ave #2
Dorchester, MA

1644 Dorchester Ave #2

$749,000
2 bd • 2 ba • 1,202 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$749,000

Price/Sq.Ft

$623

Year Built

2024

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This brand-new condominium, "The Lilly," offers modern luxury living in a prime Dorchester location. At $623.13/sqft, it's competitively priced for new construction in the area. The unit boasts high-end finishes including chef-inspired kitchens with quartz countertops and GE Café Series appliances, valued at approximately $15,000. The open-concept layout with hardwood floors throughout (estimated value: $10,000) maximizes the 1,202 sqft space. Amenities such as garage parking (a $30,000-$50,000 value in urban Boston), an on-site gym, and secure private storage add significant value. The property's location minutes from the Red Line and I-93 enhances its appeal, potentially boosting long-term appreciation.

The Bad

The price point of $749,000 is 9.7 times the median income of $77,081, which may limit the pool of potential buyers. The property has been on the market for 52 days and has already seen a 6.3% price reduction, indicating potential market resistance. The HOA fees, while inclusive, are not specified and could be substantial given the amenities. The local schools have low ratings (5/10 for Murphy K-8 School and 1/10 for Community Academy of Science and Health), which may deter families with children.

The Ugly

The estimated insurance cost of $2,696.40/year is relatively high, possibly due to the property's location and the inclusion of high-end finishes. This, combined with potential high HOA fees and property taxes (which are known to be high in Boston), could lead to significant monthly ownership costs. The area's ongoing gentrification might lead to community tensions and rapid changes in the neighborhood character. The current market volatility and potential oversupply of luxury condos in Boston could impact future appreciation and resale value.

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 ideal for young professionals or couples with a household income of $200,000+ (based on a 28% front-end DTI ratio for a 20% down payment). It suits those prioritizing a modern, low-maintenance lifestyle with easy access to urban amenities and transportation. The unit would appeal to first-time luxury buyers or downsizers from larger homes who value new construction and high-end finishes. Investors might also consider it for high-end rentals, given the median two-bedroom rental rate of $2,635 in the area, potentially yielding a gross rent multiplier of 23.6.

Not For

This property is not suitable for large families needing more than two bedrooms or those seeking a traditional Dorchester triple-decker experience. Buyers with incomes below $150,000 may find it financially stretching. It's not ideal for those prioritizing top-rated public schools or investors looking for immediate positive cash flow, given the high purchase price relative to rental rates. Additionally, those sensitive to potential neighborhood changes or seeking a more established community might find this new development less appealing.
Demographics
Area Median Income

$77,081

Price Prediction Challenge

Think you know what 1644 Dorchester Ave #2 will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

Market saturation is a significant risk, with only 4 out of 8 units remaining unsold. This could indicate slower demand than anticipated and might impact future resale value. The 6.3% price reduction after just a few months on the market suggests potential overpricing initially. Long-term maintenance costs for high-end finishes and amenities could lead to increasing HOA fees. The rapid development in Dorchester might lead to oversupply, potentially impacting property values. Climate risks, including potential flooding (given the proximity to the coast), should be carefully evaluated. The low-rated schools in the area could affect long-term property appreciation if not improved.
Insurance
Annual Cost

$2,696

$225 per month

Financials

Monthly Costs
Market Rent (2 bed)

$2,635

Get a detailed rental estimate on Zillow®
HOA Fee

$250

Price History

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$696,500

-7.0% below list price

Median Price

$725,000

Based on 6 recent sales

Price per Sq.Ft

$577

Comparable Properties

20 Gaylord St #2, Boston, MA 02124
Price: $649,000
Sq.Ft: 1,200
Beds/Baths: 2/2
$/Sq.Ft:
$54113.2%
Sale Date: 10/28/2024
1644 Dorchester Avenue #1, Boston, MA 02122
Price: $750,000
Sq.Ft: 1,144
Beds/Baths: 2/2
$/Sq.Ft:
$6565.2%
Sale Date: 10/24/2024
44 Chickatawbut #2, Boston, MA 02122
Price: $710,000
Sq.Ft: 1,190
Beds/Baths: 3/2
$/Sq.Ft:
$5974.3%
Sale Date: 10/10/2024
24 Mt. Ida Rd #2, Boston, MA 02122
Price: $510,000
Sq.Ft: 1,083
Beds/Baths: 2/2
$/Sq.Ft:
$47124.4%
Sale Date: 11/7/2024
20 Gaylord St #3, Boston, MA 02124
Price: $725,000
Sq.Ft: 1,350
Beds/Baths: 2/2
$/Sq.Ft:
$53713.8%
Sale Date: 10/28/2024
1644 Dorchester Ave #6, Boston, MA 02122
Price: $835,000
Sq.Ft: 1,258
Beds/Baths: 2/2
$/Sq.Ft:
$6646.5%
Sale Date: 9/30/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$22,470

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results