Which property are you referring too?
in the city your starting at around $1500 per month just outside the city in say Medford or malden( both on the orange line of the T your looking at starting around $850per month
The preforclosure listings on Zillow are added any time they see a "soldiers and sailors act notice" filed. It means the property is in serious default on the loan but does not mean it will ever actually reach foreclosure.
Depending on what area and how High End the finishes are you will be looking anywhere from $180- $225 soft