Falmouth Investment Properties
Falmouth is a town of over 31,000 people that is located in the Cape Cod Metro area. It is a town with quite a few scientifically minded professionals, but this area is also often used as a vacation spot during the summer. The average real estate value for a home in this area is approximately $550,000, but since it is a growing community with a lot of potential, it is a great place to consider for an investment.
Click Here to Search Investment Properties
Residential and Commercial Investment Properties
Finding property to invest in can be difficult, especially if this is the first piece of property that you have ever invested in. That being said, a vacation area such as this one is a great option to invest in, but there are a few things that you will need to consider before deciding which property works best for you.
- Residential or Commercial – This is something that you need to consider more when you are considering a vacation area because not all commercial opportunities are going to be what you want. Since the population of the area fluctuates with the season, businesses in the area may not stick around or stay open during the slower time of year, which means that you may not get as much of a rental income during the off-season. The same is true of a residential property, but if you rent these units out to vacationers, you can make more in a few months than you could with a long-term rental agreement.
- Long-Term Rental or Short-Term – Which option is going to provide you with more income? This is an important consideration to make because you need to make sure that you are getting enough income to cover the mortgage and maintenance needs, so if you are unsure if short-term renting will get you the income that you need, long-term may be preferred.
Real Estate Market Overview in Falmouth Neighborhoods
There are a total of seven neighborhoods in this area, and all of them vary when it comes to price.
- Town Center – This area, which is the southern peninsula in the town, has a median real estate price of $668,700. This area is made up of mostly single-family homes and apartments, but since it is a vacation destination, the vacancy rating is 42 percent.
- Northern Part of Town – The median price for real estate in this area is about $586,000, but since this near the water, the rental price in the area is over $2,000 a month. In addition, if you rent out the property for short-term vacationing, you may be able to charge even more. There are quite a few townhouses in the area as well.
- The Heights – This is an area that is located in the southern portion of town. The average real estate price in the area is about $522,000, but since it is located on the Cape, nearly 30 percent of the homes are only occupied seasonally.
- Eastern Part of Town – This part of town has a median real estate price of about $393,000, which makes it a great option for investing, especially when you are able to rent the units for $1,800 a month. In fact, vacation rentals prices in this area tend to be a little higher than a long-term rental.
- Hatchville / Saconesset Hills – This is a location that is not directly on the water, which means that there are both commercial and residential opportunities in the area. There are a lot of apartments in the area as well, and a unit in this neighborhood averages about 2,300 a month for a two-bedroom unit.
- Teaticket – The Great Pond can be found in this area, which makes it an ideal neighborhood to walk in and enjoy waterfront activities. Most of the buildings here were built between 1940 and 1969.
- Smalltown / Waquoit Village – This is a small, quiet seaside town that comprised of mostly owner-occupied single-family homes and small apartment buildings.
Choosing the Right Investment Property
Finding property to invest in can be difficult, especially in a vacation area like the Cape. That being said, there are plenty of option in the area that will give you a large return on your investment, but how can you find the right property for your needs? Call Boston City Properties today so that we can give you an idea of what is available in this town and help you find a residential or commercial property to invest in.
Click Here to Search Investment Properties