2-bed apartment to rent in Andover — $3K | Dwelfy

Deals · 22 Railroad St APT 207, Andover, MA 01810

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Pays from day one — check the rent yourself

Rented normally, you'd make about $1,619 a month.

The rent is our own estimate — worth checking against two or three real local lettings. One month without a tenant wipes out about a month of that profit, so keep a buffer for gaps.

22 Railroad St APT 207, Andover, MA 01810 · 1,030 sqft · $3/sqft

2 BED APARTMENTListed 6d ago

$2,795

Why it works

Monthly profit +$1,619/mo from completion — the no.1 reason to invest
This is the money left after the mortgage, the running costs and tax — not the rent.It assumes the rent we modelled and the empty weeks we assumed. Change either and it moves. Try your own numbers →
Passes the lender's rate test at 6.5% — lender-friendly
Lenders test the rent against a stressed rate, not the one you are quoted. This clears it.The cover level is each lender’s own policy, not law — treat it as the shape of the test. See the lender's view →

Why to be cautious

No rent comparables — estimate is a rule-of-thumb fallback, not market data. Verify the rent locally before offering.

What would have to be true?
No offer works back from a stand-in rent
Every price on this card is that rent inverted. This listing’s rent is a wider-area figure rather than a like-for-like comparison of nearby rentals, and a price worked back from it would be quoted to the $5,000 on evidence that cannot carry it.
rent is a wider-area stand-in

Is it a good location?
Andover
We hold no schools, flood or crime reading for this address yet — open for the map and what we do have. An absence here is a gap in our record, not a clean bill.
mapped to a point, not an address

What can we answer in this market?
6 of 11 questions 5 need data we do not hold in this market yet
3 of them run on numbers you set yourself, so they stay amber however good they look.
Coverage, not a verdict

Ready to move on this deal?

Generates an offer pack with your numbers & sources — take it to the agent.

Listing seen …

What if…

Standard rental on an Assured Shorthold Tenancy. Single household, market rent, paid monthly direct to landlord (or via agent).

You keep$1,619/mo

All-in cash$775

Payback0.0 yrs

Offer

Deposit

Mortgage rate

Standard rental

Rent

Empty weeks a year

Doing it up

Estimated, not surveyed — nobody has been inside.

More assumptions9

Mortgage term

Stress rate

Solicitor + survey

Lender fees

Letting agent

Insurance

Maintenance

Service charge

Ground rent

Where these figures came from15

Offer the asking price$2,795Asking price from listing

Deposit a typical assumption25%Standard 75% LTV for rental

Mortgage rate a typical assumption7.00%5-year fixed (market average) — 7.00% (as of 2026-05).

Rent worked out from local rents$2,200/moEstimated rent from 5 comparables.

Empty weeks a year a typical assumption2 wksTypical voids for rental

Doing it up a general default, not this property$0No condition data in this market — no works assumed. Add a figure if the listing needs them.

Mortgage term a general default, not this property30 yrs

Stress rate a typical assumption8.00%Fed base + 2pp stress (8.0%)

Solicitor + survey a typical figure, not a quote$2,000Leasehold flat — $1,500 legal + $500 survey

Lender fees a typical figure, not a quote$1,0422% product fee on $2,096.25 loan + $1,000 booking fee

Letting agent a typical assumption10%Typical rental agency rate

Insurance a typical figure, not a quote$20/moTypical building+landlord cover for sub-$200K

Maintenance a typical figure, not a quote$67/moSemi/flat: $67/mo proxy

Service charge a typical figure, not a quote$150/moLeasehold fallback: $1,800/yr proxy — confirm with managing agent

Ground rent a typical figure, not a quote$25/moLeasehold fallback: $300/yr proxy — confirm in lease

These are this page’s own derivation notes, unedited. A figure marked a typical figure, not a quote is our model of a cost for a property of this kind in this area — not a price anybody has given you, and the first thing worth replacing with a real one.

Notes

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List price$2,795

Rented normally, you'd make about $1,619 a month.

What if I change my assumptions?The dialsAt the asking price, 25% deposit, 7.00%Change any of these 15 and every card on this page changes with it.◧ worked out from local rents

What will it cost me to buy?Breakdown$775$3,098 of that never comes back — closing costs, attorney or title company and lender fees.$775 to buy itdeposit · purchase costs · legal · fees◧ 25% deposit, typical fees

How big is it, really?The workingOne figure, and nothing checking it 1,030 sq ftOnly the agent’s figure exists for this house. Open for what that means.□ area unchecked — agent’s own

Is it a good location?Open the mapAndoverWe hold no schools, flood or crime reading for this address yet — open for the map and what we do have. An absence here is a gap in our record, not a clean bill.■ mapped to a point, not an address

Is there anything that stops it?The checksWe do not screen letting restrictions in this marketThese are UK rules and we run no equivalent here. Not checked — never as clear.4 do not apply to this property■ listing last seen 13 Sep 2026

What can we answer in this market?6 of 11 questions 5 need data we do not hold in this market yet3 of them run on numbers you set yourself, so they stay amber however good they look.□ Coverage, not a verdict

Is it a good location?
Andover
We hold no schools, flood or crime reading for this address yet — open for the map and what we do have. An absence here is a gap in our record, not a clean bill.
mapped to a point, not an address

What can we answer in this market?
6 of 11 questions 5 need data we do not hold in this market yet
3 of them run on numbers you set yourself, so they stay amber however good they look.
Coverage, not a verdict