533 Cambridge (Boston, Harvard: to rent, crime rate, home)

[New Englander]

I am considering either renting or buying a place. Although I am not on a strict deadline and like living in Harvard Square, things are getting expensive and the neighborhood has become too touristy for my liking.

I cam across 533 Cambridge street development in Allston. I wanted to see what others might think of this development and the general neighborhood. I have spent plenty time in Allston but never really 'lived' there, and my sense is that it is a college/20s crowd in the neighborhood with some rowdy/tenement like blocks.

If I were to buy at 533 Cambridge, I am looking at it not just as a home but as a longer term investment which I can rent out once I finish up school and may have to leave Boston. I imagine renting out might not bee too difficult because of the students. Any thoughts?

[goyguy]

Allston's a slum, plain and simple. Nothing more, nothing less. South of the turnpike, it's populated in roughly equal parts by college students and people who refuse to grow up and first-generation immigrants. The buildings that aren't decaying have had crappy remodeling jobs done to them. Litter's all over the place. Nowhere is quiet. The crime rate is the highest in the entire city - and I bet you thought Dorchester or Roxbury held that dubious distinction.

Don't get me wrong, Allston is a great place for good times: Sports Depot, Harpers Ferry, Sunset Grill, The Kells, Great Scott's, the list goes on and on. It's a Mecca for cheap "ethnic" food from all over the world, for bargain-priced furniture and home accessories, for comic books - excuse me, graphic novels, for "vintage" and/or cutting-edge clothes, and more. But live, or invest in property, there? Nothin' doin'.

[New Englander]

Thanks for the response goyguy! Your responses are very helpful.

I am just exploring options and possibilities.

[HowGoesIt]

I used to live in Lower Allston, north of the pike. I thought the area was a lot of fun. There were a lot of good bars and tons of dive breakfast places. It's mostly a 20-something crowd and tons of Brazilian immigrants. There are busses that are always in the area and will take you to where you want to go. I wouldn't be totally against buying there if the price was right. Plus, if you decide to move, the place would be very easy to rent out to a grad student or young professional.

[New Englander]

^

Good point. The price is right is what I am questioning right now.