Dover Multi-Family Homes

Dover is 15 miles southwest of Boston along the Charles River in Norfolk County. Residential zoning in the city requires that all lots should be one acre or larger. It is a family-oriented community, and the city's schools are considered among the best in the state.

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The city has 1,969 housing units with 90-percent owner-occupied. The median home value is $1,090,250 Most of the homes were built before 1939 or between 1960 and 1969. The average rental property in the city has three bedrooms, and the median rent is $3,436 per month.

The population is 5,983 with 96.03-percent of the residents employed in white-collar jobs and 11.51-percent working at home. The city has more residents working in the areas of computers and mathematics than 95-percent of communities nationwide, and more residents working as artists, designers, and in other areas of visual media than 90-percent of the communities nationwide. It is a city of wealthy, well-educated urban sophisticates, who read, travel, visit museums, and support the arts. Residents spend about 34 minutes commuting to work. However, many of the residents use the rail system to commute to work. Those with a bachelor's degree or higher is 84.53-percent, which is four times the average for communities nationwide. The per capita income is $101,393 and, according to the 2010 census, the median household income was $189,265.

The multifamily housing market in this city has some unique issues. The upscale market in the city along with the limited number of investment properties means that property prices will be higher, and more buyers could be bidding for any properties for sale. To learn about properties for sale quickly and to try to avoid a bidding war, hiring a knowledgeable and experienced real estate agent who knows this market is a good idea. With the higher real estate prices in this city, your investment will be greater, but your income could be greater also. This area will have more financially stable tenants, and that lowers your risk. However, you will be making a large investment, a real estate agent can provide you with a market analysis for properties in this city including the amount you will have to invest, the occupancy and turnover rate, the resale potential, the likelihood of getting a loan, the cost of a loan, any zoning or other issues, and any potential changes in this market. The real estate agent can then compare the financial data with the possibility of investing the same amount in one or more properties in nearby areas. They can show you which investments can give you the best short and long term return. They can compare the cost of a loan and the likelihood of getting a loan. You can get information on whether investment in more than one property puts you at less of a financial risk, and whether providing yourself with multiple properties is a better idea if you find yourself considering selling a property to reduce your investment a little. A knowledgeable and experienced real estate agent is used to considering all these factors on a regular basis. When you have decided on the property you want to purchase, a real estate agent can help you make an offer and negotiate with the seller, so that you can acquire the property without paying too much, even if there are other potential buyers bidding on the property. A knowledgeable and experienced real estate agent can make sure that your investment will be a positive experience now and for your future.

If you have rental property in this city that you want to sell, you could have multiple buyers because of the limited amount of investment property available in this city. A real estate agent can help you qualify the potential buyers. Accepting an offer from the highest bidder may not be the best choice if the highest bidder has to sell other property before they can close the sale. If the highest bidder is not able to close the sale, you may have lost some potential buyers while you were waiting. That is why it is important to let a real estate agent qualify potential buyers before you accept an offer. A knowledgeable and experienced real estate agent will help you sell your property quickly at a good price.

With the special considerations in this market, contact us to buy or list a multi-family property in Dover.

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