Fairhaven Investment Properties

Fairhaven is a town in Bristol County that is known for its whaling because it is a coastal town that is located on the bay. The town is about 60 miles from Boston, but it is positioned even closer to Providence, Rhode Island. At about 32 miles from the city, it is fairly simple to commute to, even on a daily basis. Property in this area has a median price of about $272,900, which is a bit more than the price per square foot of property in Providence, but it is a much lower price point than homes in Boston.

Click Here to Search Investment Properties

Residential and Commercial Investment Properties

Are you new to the real estate market, but want to invest in property in the area that will yield a profit? Well, if this sounds like you, then there are quite a few options worth considering. These properties range from single-family homes to multi-family homes, but they also include commercial properties that you may not consider investing in right away. Here are some of the options that will be available to you in the area:

• Single-Family Homes – This is an option that is available for individuals who are looking to stay in an area for a short amount of time and then sell the home that they invested in. In fact, you can even rent out the property if you prefer because there will be plenty of young professionals looking for a suburban home in the area.
• Apartments – These are buildings that are designed with multiple units on each floor. Sometimes these are high-rise buildings, while other times, they are smaller buildings that were converted from a single-family home.
• Condos and Townhouses – Condos are very similar to apartments, but the tenants often own the units instead of renting them. The other difference is that the tenants will be required to pay an HOA to cover maintenance costs as well as upkeep around the exterior. Townhouses follow a similar structure, but these units are positioned next to each other, and they typically have individual entrances.
• Duplexes, Triplexes, and Quadplexes – These are buildings that have two-, three-, or four-floors that have been made into individual units. Typically, the entrance is separate as well.
• Office Spaces – This is an area that is divided into cubicles or several small offices that can be used for a startup or a small business.
• Retail Property – Storefronts offer a great investment option as well, especially if you can get tenants into the space that work in the community. Most leases are five to 10 years, but a thriving business will stay much longer.

Real Estate Market Overview in Fairhaven Neighborhoods

There are four neighborhoods to consider in the area, each of which offers great investment opportunities for you to consider.

• Nasketucket – This neighborhood, which is the easternmost part of town, has a median real estate price of about $335,000. This is a very walkable neighborhood, especially with all of the coastal views. Many of the homes in the area were built between 1940 and 1999.
• Silver Shell Beach / Wigwam Beach – This is actually the most coastal part of this town. It is mostly older single-family homes or small apartments that have been converted from single family homes, and the median real estate price in the area is about $334,000. The vacancy rate is at 21 percent, but that is because this area is often used as a vacation property.
• Town Center – This area of town is designed with buildings that date back to before the year 1939. This is a densely populated area, so whether you are looking for commercial property or residential, you may have competition finding something that fits your investment needs in this neighborhood.
• Oxford – This is one of the neighborhoods in the area with a low real estate median, which is about $290,000. In addition, rental prices are only about $897 a month, so before you invest, make sure your costs will be covered.

Choosing the Right Investment Property

If you are unfamiliar with the area, finding a professional that can help you invest in the right property might be beneficial. In the past year, the real estate value of homes in the area has gone up nearly four percent, and it still continues to rise. That being said, Boston City properties knows the area, so if you need help finding property to invest in, call 617-247-1933 today!

Click Here to Search Investment Properties