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Dracut Multi-Family Homes

Dracut is 30 miles northwest of Boston and is located in Middlesex County in the Merrimack Valley. The Merrimack River is on the south side of the city with the towns of Tewksbury and Andover on the other side of the river. However, there are no bridges over the river in the city, so residents must go east to Methuen or south to Lowell to cross the river to reach Tewksbury and Andover. The city is a small town with room to grow, and the city has already coordinated with the state to create economic development by bringing in three health facilities. The different areas of the town are referred to as follows:

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Of the 10,988 housing units in the city, 77.3-percent are owner-occupied and have a median home value is $356,306. Since 2000, the appreciation rate has been 59.11-percent and that averages out to 2.61-percent per year. Most of the homes in this city were built between 1970 and 1999 with 15.3-percent built before 1939, 26.2-percent built between 1940 and 1969, 47.4-percent built between 1970 and 1999, and 11.1-percent built since 2000. The housing units are 66.5-percent single family housing, 5.9-percent townhomes, 7.9-percent small apartment buildings, 19.6-percent apartment complexes, and 0.2-percent mobile homes. The multi-family housing in this city is either studio or one- and two-bedroom units with a median rent of $1,920 per month.

The population is 31,352 and consists of a fairly equal mixture of blue- and white-collar workers. The city is in the top 5-percent of communities nationwide having residents employed in the areas of computers and mathematics. Commuting to work can take residents 31 minutes. However, residents can take the Lowell Regional Transit Authority bus #10 to the Lowell MBTA Commuter Rail station. The adults living in the city with a bachelor's degree or higher is 38.35-percent. According to the 2010 census, the per capita income was $35,512, and the median household income was $86,716.

This information will give you a good base to start analyzing investment property in the city, but hiring a knowledgeable and experienced real estate agent will be beneficial. You can use the additional knowledge to make a decision that will ensure that your purchase and future ownership are a positive experience. Local real estate agents know the area, the current market, and potential changes in the market. They can help you choose properties that should give you the highest return on your investment with the potentially highest occupancy rate. They can provide information on any zoning restrictions, possible development in the area, and other information that is not always public knowledge. With their knowledge of the local market, a real estate agent can also help you in making an offer and negotiating a price so that you stand the best chance of obtaining the property quickly over other potential buyers without paying too much. Hiring a real estate agent to act as a buyer representative for you provides you with a partner to ensure your success in the purchasing process.

If you have rental property in this city that you want to sell, let one of our experienced and knowledgeable real estate agents help you create a marketing plan. Our agents know the area and the current market. They can advise you on a price that will attract buyers but that will give you room to negotiate. They will help qualify buyers so that you do not select a buyer who has to delay or even default on the closing. Our goal is to help you sell your property quickly and at a good price.

To ensure the most successful outcome, contact us to buy or list a multi-family property in Dracut.

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