Framingham Investment Properties
Located in the MetroWest section of the Greater Boston metropolitan area, Framingham, Massachusetts, is a city of 71,594 residents that has a good mixture of both suburban and urban environments. Located about 22 miles from Boston, this is a city that benefits greatly from the steadily-growing metro area. In fact, it's currently experiencing a sellers' market that's considered to be "hot" by real estate analysts.
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As a result, it's a great time to seek out a property investment in the city limits; there are all types of properties available, and most investors can make a tidy profit with just a little know-how.
Residential and Commercial Investment Properties
As mentioned, this town is definitely undergoing a hot period in real estate. That being said, it's always smart to have a plan of which types of real estate that you'll be investing in. Primarily, most investors consider single-family, multi-family, and commercial investments when it comes to property, so let's take a look at a few of the features of each:
- Single-Family – Often considered the American dream, a single-family property is a great investment because it's so popular. While many aim for home ownership, others will rent a single-family home due to advantages like having a yard and freedom from adjoined neighbors. As a result, you can make a lot of money renting out a single-bedroom home, and the month-to-month profits usually far outstrip operation costs and mortgage payments.
- Multi-Family – Multi-unit properties are amazing investments that have a tendency to appreciate over time and are also excellent portfolio builders. These properties, which include condos, duplexes, and apartments, are sure bets for profitability, and they are even safe from inflation as well. Additionally, you can even live in one of the units and rent the others out, which means that you'll have a place to live that also generates impressively steady cash flow.
- Commercial – Whether you're investing in hotels, office, or retail space, commercial property is an amazing cash flow generator. These properties have a tendency to appreciate more than other types of properties, and you can even charge more for maintenance and real estate taxes.
Real Estate Market Overview in Framingham Neighborhoods
This city has an impressive number of neighborhoods that include:
- Edgell Road
- Worcester Road
- Town Center
- Union Avenue
- Nobscot
- Cochituate Road
- Saxonville
- Old Connecticut Path
- Main Street
- Pleasant Street
One of the best features of living or even investing in these neighborhoods is that there is a wide variety of styles of living; some areas are suburban and others are distinctly urban. Also, places like Edgell Road have vacancy rates on the very low end of the spectrum, which means that these areas are prime for property investment. The area is also populated by both property owners and renters, so investors will certainly have their options in town when it comes to property.
The overall real estate status of the entire area is very healthy; currently, the median home value in town is $428,560, and as mentioned, this area is currently undergoing a hot market due to the steady year-over-year growth of nearby Boston. Despite this growth, the city definitely stands out as reasonably priced in the real estate market, especially compared to other Boston suburbs. In fact, the median price per square foot in the city is $267, which is $11 less than the Boston Metro average.
Choosing the Right Investment Property
This town is in a very attractive position due to its close proximity to Boston and its status as a city with suburban features. As a result of its unique status, not only are residential investments easily able to be leveraged in this town, but commercial real estate investment is as well. While hotels and resorts may not be the way to go in the city, there are plenty of opportunities for retail and office space.
When it comes to leveraging residential property investments, you'll also find the fact that the city has a good mix of owners and renters fairly advantageous as well. Purchasing property for sale can definitely help you turn a profit, and with it being a sellers' market currently, using some forced appreciation techniques on the local properties can certainly help you receive a strong return on investment.
This city certainly has a lot going for it, but that doesn't mean that you shouldn't have a professional real estate brokerage in your corner. Boston City Properties has licensed professionals on-staff that understand the ins and outs of investing in property in this city, so contact us today so that we can help you find your ideal investment.
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