Prattville Real Estate in Chelsea, Massachusetts

From modern lofts to suburban ranch homes, there's something for everyone in Chelsea's trendy Prattville neighborhood. Artists and young professionals are joining the ranks of mid-career homeowners who have traditionally settled in this exciting community. Recently, Prattville has become the neighborhood to watch for anyone interested in leading an urban lifestyle in an affordable area just north of the city.

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The Real Estate Market

By size, Chelsea is the smallest city in Massachusetts, but it's experiencing fantastic growth. Property values are on the rise, and 1,200 new housing units have been added in the past 10 years. Now, residents can enjoy culture, entertainment and superb amenities without traveling to the city. Growth is also occurring in the commercial real estate sector as more offices, retail outlets and restaurants relocate to this mostly residential community.

Housing Options

If you've been looking for a home, a condo or a luxurious penthouse apartment, Prattville is an excellent place to start your search. This historic, well-kept neighborhood includes residential streets north of Revere Beach Parkway near Washington Avenue. Like surrounding parts of Everett and Revere, Prattville has a pleasant mix of mid-century ranches, three-story homes and historic buildings. The neighborhood has a variety of architectural styles, and most properties have small suburban yards. However, if you aren't ready to jump into a suburban lifestyle, you can also find modern lofts and condos that have a distinctly urban feel.

Apartments and Condos

In general, rentals in Prattville tend to be more affordable than the rest of the Boston metropolitan area. Homes, on the other hand, tend to be slightly more expensive than the regional average. The majority of apartment rentals cost between $1,700 and $2,100 per month. This includes 1,000-square-foot apartments with two and three bedrooms. Most units are renting for just over $2 per square foot.

Prospective buyers who have been searching for a condo or single-family home at an accessible price point will find that Prattville is the perfect neighborhood, especially for first-time homeowners. The median listing price is less than $250 per square foot. This is one of the few neighborhoods where you can still purchase a modern bi-level loft condo for less than $300,000.

Luxury Properties

Whether you choose to rent or are ready to buy, you'll find that many of the newer loft-style buildings offer superb amenities. In the historic Prattville School, which was one of the first local loft conversions, residents enjoy hardwood floors, chef-quality kitchens and spa-style bathrooms with steam showers. Plus, in-unit laundry, spacious closets and deeded parking spaces are common amenities that never lose their appeal. In terms of price and property features, Prattville is an exceptional value.

If the trendy Prattville neighborhood sounds like the right place for you, we can provide a comprehensive selection of the latest listings. Our agents will create a collection of hand-picked properties that meet your specifications. If you need a pet-friendly apartment, prefer luxury amenities or want quality on a strict budget, we'll find a property that delivers. Use our online search tool, or call our office at 617-247-1933 to get started.

Whether you want a ranch home or a loft apartment, there are options available within Chelsea's Prattville neighborhood. This artistic, hip community is ideal for residents who want an affordable property that enjoys an urban atmosphere. Plus, Prattville is placed just a little to the north of Boston.

Technically, the entire Chelsea area is the smallest city in the state. Despite its small size, it has enjoyed exceptional growth over recent years. In just the last decade, there have been 1,200 new housing units added to the region. As the city grew, new entertainment venues and cultural options have arrived. The commercial real estate market has grown to include restaurants, offices and retail outlets. While this is still primarily a residential neighborhood, it now includes modern, urban amenities.

Within Prattville, residents will find historic homes and modern condos. There are a number of three-story homes, mid-century ranches and historic properties. The neighborhood includes residents options near Washington Avenue and to the north of Revere Beach Parkway. The architectural styles vary, but residents can find a blend of different housing options. Modern lofts and luxury condos dot the neighborhood. Many of the properties are suburban homes with small yards.

As a rule, rental properties are more affordable than most of the Boston metropolitan area. Homes tend to be a bit more expensive than the region's average. Still, the area is a good option for single-family homes and condos. It is still possible to find a bi-level loft condo in the area for under $300,000. The newer loft-style buildings tend to have excellent amenities and modern finishes.

Real Estate in the Neighborhood

Many of the homes in this neighborhood are offered in the $400,000 to $800,000 range. This neighborhood has an average list price of $469,000, which works out to $241 per square foot. The average property ends up selling for 94.9 percent of its listing price. Over the last decade, Prattville and Chelsea's waterfront area have received a significant portion of the area's new developments.

Smaller rental properties on the marketplace include examples like 262 Revere Beach Parkway. This property includes nine bedrooms in three different units. Originally constructed in 1800, this historic property has an asking price of $750,000. It spans 3,798 square feet and sits on a 4,176-square-foot lot. In addition, it includes nice layouts and parking for six vehicles.

For a typical home, residents can find options like 106 Garfield Avenue. Encompassing four bedrooms, this home has an asking price of $559,900. Originally constructed in 1929, it sits on a 5,230-square-foot loft. In total, the home includes 2,028 square feet. This works out to a price of just $276 per square foot. Within the home, residents will find two floors of living space and a three-season porch. The property boasts of a finished basement, a sun room, decorative columns and hardwood floors. Since it is considered a two-family home, residents can rent out the second unit and earn money from their dwelling. The property also boasts of a rear yard, a storage shed and a detached garage.

At 53 Columbus Street, residents will find a comfortable three-bedroom property. It spans 2,170 square feet and is offered for $469,000. With a price per square foot of just $216, this home is a good deal for the price. This home has generous rooms and a finished basement. The single-family home offers extra storage space, two fireplaces and a fenced yard. In addition, residents can enjoy having sleek hardwood flooring and an eat-in kitchen. The home contains a four-season sun room, a wood stove and new windows. The large master bedroom provides large windows and a slider out to the private deck.

As a part of Chelsea, Prattville is filled with historic architecture and modern lofts. The housing stock includes suburban ranch homes, luxury condos and historic buildings. Placed just north of Boston, this area is still a relatively affordable place to invest. The entire Chelsea region is growing fast, which means real estate prices may be advancing in the near future. In just the last decade, Chelsea has been the site of 1,200 new housing units. Commercial real estate is also increasing as more retail outlets, offices and restaurants come to the area.

Residents can find housing stock like luxury apartments, single-family homes and condos. The well-kept neighborhood offers lovely residential streets and historic properties. Residents will find three-story homes, mid-century ranches and small suburban yards. The homes range in architectural styles. Some of the old Victorian and Colonial homes have been converted into quaint apartments with charming architectural details. Rentals like these can cost between $1,700 to $2,100 per month. The average rental costs about $2 per square foot.

While rentals are cheaper than most of the Boston metropolitan area, homes tend to be a bit more expensive than the rest of the region. Compared to other Boston neighborhoods, the real estate prices are still quite low. A bi-level, loft-style condo may cost about $300,000. At the upper end, luxury units can cost closer to $1 million. Newer condos are designed with luxury amenities and a loft style.

One interesting condominium property can be found at the historic Prattville School. This school was remade into a luxury property with chef-quality kitchens, gorgeous hardwood floors, steam showers and spa-inspired bathrooms. They offer deeded parking spaces, in-unit laundry and ample closet space.

The original building was first constructed in 1897. The Prattville Schoolhouse Lofts still retains the sleek brick exterior, but the condos have been updated with new amenities and modern designs. Each unit contains granite counters in the kitchens. The units feature high ceilings and hardwood flooring.

Within the Prattville Schoolhouse Lofts, residents will find 22 different units. The units come in a variety of one-bedroom and two-bedroom layouts, although there is a single studio condo at the property. Depending on the condo, the size varies between 648 and 1,322 square feet. Each unit features one-of-a-kind architecture with cathedral ceilings, plenty of natural light and over-sized windows. The kitchens contain stainless steel appliances like a dishwasher, microwave, refrigerator, garbage disposal and gas range. In select condos, the kitchens also have an island or a breakfast bar.

In the loft spaces, residents can create an office space or an extra bedroom. Designed with central air conditioning, every unit boasts of plenty of closet space and an in-unit laundry. Select units come with balconies and skylights. In addition, residents can enjoy the convenience of having a deeded parking space.

At 12 Jones Avenue, residents will find three unique condos. All of the condos are designed with gorgeous hardwood floors and bay windows. Depending on the unit, residents can enjoy having 754 to 1,386 square feet. Originally constructed in 1930, the well-maintained property has been updated for a modern living experience.

The first unit at the property includes three bedrooms, high-beamed ceilings and a maple kitchen. This unit is equipped with a large master bedroom, a three-season porch and stainless steel appliances. The second unit at 12 Jones Avenue includes three bedrooms, hardwood floors and large bay windows. The bedrooms boast of large closets and well-appointed layouts. Meanwhile, the last unit includes one bedroom and lovely hardwood floors. Like the other units, it offers stainless steel appliances as well as in-unit washer and dryer hookups. All of the units at 12 Jones Avenue can enjoy having two deeded parking spaces and a pet-friendly environment.

Recently, the condominium on the first level at 12 Jones Avenue was placed on the marketplace. For three bedrooms, high-beamed ceilings and a three-season porch, the seller posted a listing price of $180,000.

Making the Smart Decision by Investing in Real Estate

Whether you are saving for retirement or focused on wealth management, real estate investments will help you to diversify your portfolio. Over the long run, investment properties can help you to grow your net worth. If you invest in a rental property, you can also boost your monthly cash flow.

In Boston, real estate investments are a smart choice. Over the long run, real estate investments generally stick to an upward trajectory. Your investment today will appreciate over the next 5 to 20 years. In the meanwhile, your investment can boost your cash flow. Each month, your tenants pay you rent. While an investment property can cost money to repair and manage, many of these costs can be deducted from your annual taxes. To make sure that you are prepared to own and manage a property, make sure to set aside 10 to 20 percent of your rental income to cover future maintenance problems.

Investing in real estate is always generally better to do over the long run. While your short-term investment will bring in rental income, the investment property is more profitable when you own it for longer. Over the long run, home values and rental prices will generally rise. While you will collect more in rent or through a real estate sale in the future, your fixed-rate mortgage will remain the same.

Other than enjoying a steady income stream, real estate can provide long-term financial security. Even if you lose your job or are unable to work, you can still receive a steady flow of cash. By renting units, you can make sure that your mortgage payments are covered through the rental income.

Whether you are buying a single-family home or an apartment complex, there are a number of tax benefits available. Real estate income is not subject to the normal self-employment tax. The government also offers extra tax breaks for legal fees, property depreciation, property taxes, insurance, travel expenses and maintenance repairs. Unlike a stock portfolio, you only pay federal taxes on the real estate's value when you sell the property.

Tips for Investing in Real Estate the Right Way

Before you make an investment, you have to make sure that it will pay off. When it comes to real estate, one of the most important aspects of any property is the location. Before you hand over a down payment, make sure that the property is close to local amenities. It needs to be in a desirable or up-and-coming area where people will want to live in the next few years. To get the best deal for your money, you may want to look at fixer-uppers in prime locations. Instead of paying full price, you can find a tarnished home that can be renovated into a strong investment.

As you consider investing, you should also look at your credit report. Even wealthy investors borrow money to finance a real estate deal. To get a loan, you have to have a good credit score. If there are mistakes on your credit report, make sure that you fix them quickly. Banks are pickier about providing loans for rental properties than they are for primary residences. Because of this, you have to make sure you have excellent credit before you try to get a loan.

As you look for the right property, plan out your financial goals. Make sure that you are able to commit the time and money you need to make your investment a success. Look at plenty of different properties before you choose the right one. Too many investors pick the first property they see because it seems nice enough. Look at more properties so that you have a wider range of investment options.

To make sure that you get the best deal, try to find a motivated seller. If the property has been on the market for a year without any price reductions, then the seller is not particularly motivated. You want a seller who is willing to lower the price to get rid of the property. These sellers can be found by looking in the classifieds, reading online listings or attending open houses. Consider looking at unattractive or vacant properties in your area because sellers tend to be more motivated with these properties. In addition, the price is always a key indicator of how motivated the seller is. If the property has only been up for a few months, multiple price reductions are a sign that the seller really wants to sell.

Navigating the real estate market can be difficult for new and experienced buyers. We are here to help if you want to make your buying process easier. Our team of experts is experienced with the Prattville real estate market. To find out how we can help, call us today.

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