Real MIT: a Property Analysis Tool for Real Estate Investment

Abstract

An investment in real estate is one of the key paths to wealth, offering potential for long-term financial growth through property value increase and rental income. However, real estate investors face tough market research. They need to understand the various economic trends and data, which are complicated and time-consuming. Although many existing tools for property investments are invented to assist the investors, those tools don't do enough for decision-making in investment process due to the difficulty to use and to do effective analysis. Moreover, the market data in real estate are scattered across different data sources, making it hard to get an overall picture and to make smart choices. To solve these problems, the main objective of this project is to design and develop a web application named Real MIT, as a tool for property analysis for real estate investment. The application brings together all the essential information by consolidating critical market data and provides several useful functionalities such as dashboard for displaying key market trends, property data exploration, a side-by-side comparison of properties, and analysis on property's detailed aspect scores. The evaluation results show that Real MIT is a robust and user-friendly tool that enhances the efficiency of evaluating property potential, thereby providing real estate investors with a superior analytical platform compared to traditional tools like Microsoft Excel.