Eastham Multi-Family Homes
Eastham, located 92 miles southeast of Boston in Barnstable County, is the gate of the Cape Cod National Seashore. It has beaches on both the Cape Cod and Atlantic Ocean sides, a windmill, and two lighthouses -- the Nauset Light and the Three Sisters Lighthouse. The city is unique with several large ponds located in the center of town. The Great Pond is large enough to have two public beaches and to allow up to 50-horsepower motorboats and water skiing. Residents also have access to the Cape Cod Rail Trail and other biking trails. Many of the residents are seasonal, only living here in their vacation homes during the high season. This causes many of the businesses to also only operate during the high season. This city, as well as Brewster, Orleans and Wellfleet, comprise the Nauset Regional School District that operates the area middle and high school. Each city has its own elementary school. The city consists of two neighborhoods.
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- Town Center
- North side
Of the 2,411 housing units in the city, 84.7-percent are owner-occupied and have a median home value of $483,399. The appreciation rate for homes in the city has risen 84.99-percent since 2000 averaging 3.48-percent per year. The majority of the homes were built between 1970 and 1999 with 6.9-percent built before 1939, 32.2-percent built between 1940 and 1969, 51.3-percent built between 1970 and 1999, and 9.6-percent built since 2000. The housing units are 93.7-percent single family housing, 2.2-percent townhomes, 3.8-percent small apartment buildings, and 0.2-percent apartment complexes. The median rent is $1,611 per month.
The city has a population of 4,904 in a mixture of blue- and white-collar jobs with 7.7-percent working from home. The average daily commute to work is 32.13 minutes. The regional bus service, The Flex, provides the only public transportation. In the city, 26.03-percent of the adults have a bachelor's degree or higher. The per capita income was $36,320, and the median household income was $42,618 according to the 2010 census.
As a seasonal resort community, this city is a unique market. If you are considering investment property in this area, hiring a knowledgeable and experienced real estate agent to help you explore all the issues involved in investing here will provide a good base for a successful investment. A real estate agent can give you a complete market analysis. They can compare an investment in this market with investments in other areas. They can help you decide whether you want to target full-time residents or seasonal residents, what properties are best, how to keep the property occupied, and how to get the best return on your investment. A real estate agent will know the market in the area, potential changes in the market, any zoning restrictions, and any potential development. With fewer investment properties in this city compared to other cities, you could find yourself competing with other potential buyers. A real estate agent can help you place a bid and negotiate with the seller, so that you have an edge over other potential buyers with less of a chance at a bidding war. A buyer's real estate agent in a unique market such as this one is a smart decision.
If you want to sell multi-family housing in this city, an experienced and knowledgeable real estate agent can help you create a marketing plan. An agent will know the area and can advise you on a good price with room for negotiation. With the small unique market, there could be multiple potential buyers. However, with so many seasonal residents, buyers could be concerned about the year-round occupancy rate. An agent can help you develop a market plan and qualify buyers so that you sell your property quickly and at a good price. When qualifying buyers, an agent will compare offers and look at potential buyers to see if there are any issues that could cause delays in being able to close the sale. This scrutiny makes hiring a real estate agent a wise choice.
Since this city is unique with such a large seasonal population, contact us to buy or list a multi-family property in Eastham.
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