Score
0Dorchester, MA
1644 Dorchester Ave #2
749K
2 beds
2 baths
1,202 sqft
2 bd • 2 ba • 1,202 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
$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
Property History
Price History
Ownership Timeline
$750,000Financed
Nov 20, 20241644 Dorchester LlcThomas Griffin
Condominium Deed
Standard Sale (Purchase/Resales)
$800,000Financed
Oct 25, 20241644 Dorchester LlcGary Howell-Walton, Jamie Howell-Walton
Condominium Deed
Standard Sale (Purchase/Resales)
$835,000Financed
Sep 24, 20241644 Dorchester LlcChuong Pham, Kristin Pham
Condominium Deed
Non-Residential Arm's Length Transactions
$810,000Cash Purchase
Sep 24, 20241644 Dorchester LlcStephen S Blackman
Condominium Deed
Standard Sale (Purchase/Resales)
$1,400,000Financed
Aug 10, 2022Alara Rt, Arminda Lefort1644 Dorchester Llc
Quit Claim Deed
Non-Residential Arm's Length Transactions
$500,000Cash Purchase
Jan 1, 1970Louis P Zinnanti, Kristine J ZinnantiAlara Rt, George Lefort
Quit Claim Deed
Non-Residential Arm's Length Transactions
$574,000Financed
Jan 1, 1970Christ Rock Metro ChrcKristine J Zinnanti, Louis P Zinnanti
Deed
Standard Sale (Purchase/Resales)
$134,000Cash Purchase
Jan 1, 1970Francis M Lavery, Phyllis LaveryChurch City Assemblies
Deed
Non-Residential Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
4.5/10
AverageMiddle
7.0/10
GoodHigh
6.5/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$749,000
Price/sqft
$623
Layout
2 bd•2 ba
Days on market
52 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$696,500
7.5%
Your price is 7.5% above average
Median Price
$725,000
3.3%
Based on 6 recent sales
Price per Sq.Ft
$577
8.0%
Your price is 8.0% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 20 Gaylord St #2, Boston, MA 02124 | $649,000 | 1,200 | 2 | 2 | $54113.2% | 10/28/2024 |
| 1644 Dorchester Avenue #1, Boston, MA 02122 | $750,000 | 1,144 | 2 | 2 | $6565.2% | 10/24/2024 |
| 44 Chickatawbut #2, Boston, MA 02122 | $710,000 | 1,190 | 3 | 2 | $5974.3% | 10/10/2024 |
| 24 Mt. Ida Rd #2, Boston, MA 02122 | $510,000 | 1,083 | 2 | 2 | $47124.4% | 11/7/2024 |
| 20 Gaylord St #3, Boston, MA 02124 | $725,000 | 1,350 | 2 | 2 | $53713.8% | 10/28/2024 |
| 1644 Dorchester Ave #6, Boston, MA 02122 | $835,000 | 1,258 | 2 | 2 | $6646.5% | 9/30/2024 |
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
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