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22 Carter St
Newton, MA

22 Carter St

$1,005,500
2 bd • 1 ba • 1,152 sf

This analysis was generated by artificial intelligence on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$1,005,500

Price/Sq.Ft

$873

Year Built

AI Property Analysis

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

The Good

The property at 22 Carter St, Newton, MA offers a prime location in one of Boston's most desirable suburbs. At $872.83/sqft, it's priced competitively for Newton, where average prices can exceed $1,000/sqft. The 1,152 sqft layout, while compact, is efficient for a 2-bedroom home. Current rental rates for 2-bedroom units in Newton average $2,990/month, suggesting a potential 3.6% cap rate for investors. The property's location likely contributes to a high walk score, enhancing its appeal for those seeking an urban-suburban lifestyle. The mature trees visible in the image suggest a well-established neighborhood with good curb appeal and potential for energy savings through natural shading.

The Bad

The property's age is unknown, which raises concerns about potential hidden maintenance issues and outdated systems. With only 1 bathroom for a 2-bedroom home, it may feel limited for some buyers, potentially impacting resale value. The lack of listed features suggests possible outdated amenities or the need for upgrades. At 1,152 sqft, it's smaller than many homes in Newton, which could be a drawback for families or those seeking more space. The high price point of $1,005,500, while competitive for Newton, may still be out of reach for many buyers, especially considering the limited space and features.

The Ugly

The lack of property description and feature list is concerning, potentially indicating significant issues or a hastily listed property. Given Newton's older housing stock, there's a high risk of major system replacements being needed soon, such as HVAC ($10,000+), roof ($15,000+), or foundation repairs. The property may have a private sewer line, which could lead to unexpected costs of $5,000-$20,000 for repairs or replacement. Newton's high property taxes, estimated at 1.15% of assessed value, would add approximately $11,563 annually to ownership costs. The competitive Newton market often leads to bidding wars, potentially pushing the final price well above the asking price and reducing overall 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 best suited for: 1. Young professionals or couples with household incomes of $200,000+ who prioritize location over space. 2. Downsizers looking for a low-maintenance property in a prime suburb. 3. Investors seeking long-term appreciation in a stable, high-demand market. 4. First-time homebuyers with significant savings, looking to enter the Newton market. 5. Those who value walkability and easy access to Boston, willing to compromise on space for location.

Not For

This property is not suitable for: 1. Families needing 3+ bedrooms or multiple bathrooms. 2. Buyers seeking a move-in ready home with modern amenities. 3. Those with a budget under $1 million, considering potential bidding wars and renovation needs. 4. Investors looking for high cash flow properties, given the low potential cap rate. 5. Buyers uncomfortable with the risks associated with older homes or unknown property conditions.
Demographics
Area Median Income

$140,000

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Risk Assessment

Risk Analysis

1. Unknown age and condition of major systems (HVAC, roof, plumbing) could lead to significant repair costs. 2. Potential for private sewer line issues, common in Newton's older homes. 3. Limited space and single bathroom may impact long-term resale value. 4. High property taxes in Newton (est. $11,563/year) increasing overall ownership costs. 5. Risk of overbidding in Newton's competitive market, potentially overpaying for the property. 6. Possible zoning restrictions limiting expansion or renovation options. 7. Climate risks: Newton has a flood factor of 4/10, indicating moderate flood risk over the next 30 years. 8. Potential for lead paint and asbestos in older Newton homes, requiring costly remediation.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$708,333

-29.6% below list price

Median Price

$605,000

Based on 6 recent sales

Price per Sq.Ft

$627

Comparable Properties

36 Lincoln Rd, Newton, MA 02458
Price: $600,000
Sq.Ft: 1,103
Beds/Baths: 3/1
$/Sq.Ft:
$54437.7%
Sale Date: 8/14/2024
36 Lincoln Rd #36, Newton, MA 02458
Price: $600,000
Sq.Ft: 1,103
Beds/Baths: 3/1
$/Sq.Ft:
$54437.7%
Sale Date: 8/14/2024
31 Emerald St, Newton, MA 02458
Price: $1,215,000
Sq.Ft: 1,334
Beds/Baths: 3/1
$/Sq.Ft:
$9114.3%
Sale Date: 9/5/2024
84 Eldredge Street #2, Newton, MA 02458
Price: $605,000
Sq.Ft: 950
Beds/Baths: 1/1
$/Sq.Ft:
$63727.0%
Sale Date: 9/11/2024
50 Watertown St #607, Watertown, MA 02472
Price: $640,000
Sq.Ft: 1,046
Beds/Baths: 2/2
$/Sq.Ft:
$61229.9%
Sale Date: 10/9/2024
50 Watertown Street #510, Watertown, MA 02472
Price: $590,000
Sq.Ft: 1,148
Beds/Baths: 2/2
$/Sq.Ft:
$51441.1%
Sale Date: 9/3/2024

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