Georgetown Investment Properties

Nestled in Essex County, Georgetown, Massachusetts, is a beautiful town that's known for its spectacular fall colors and small town living. Also, with only 32 miles between this town and Boston, it's an excellent place for commuters to return to after a long day in the constantly moving city. For those that prefer not to drive, the MBTA has a commuter rail station in Rowley, which is the neighboring town.

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Real estate investors will find that there is a reasonable amount of properties in which to invest in this town, including commercial options as well.

Residential and Commercial Investment Properties

When you're seeking out that next investment, it's good to have options. This particular town is somewhat small with only about 8,300 residents, but that doesn't mean that there aren't opportunities for rental, ownership, and commercial properties. Let's take a look at a few you can consider:

• Single-Family Units – If you're considering investing in a few properties in the area, consider investing in some single-family homes. Living in a single-family home is preferred by many, even if it means renting rather than owning, so purchasing one of these homes can provide relatively steady cash flow with minimal upkeep costs. If the market continues steady growth, you can even sell it for a profit.
• Multi-Unit Properties – This typically includes duplexes, condos, townhomes, and apartments, and these properties shine because of the fact that banks will finance these easier than single-family units. Additionally, with multiple units, you'll have extensive cash flow and impressive capitalization rates, especially when rent values increase over time.
• Commercial Real Estate – If you're looking for a true hedge against inflation, commercial real estate has a tendency to appreciate the fastest of all the properties that you can invest in. Not only does this type of real estate include retail space for businesses, but it also includes office space for startups and small businesses. Leases for these can be as long as 10 years in some cases.

Real Estate Market Overview in Georgetown Neighborhoods

Currently, the median real estate value for this town is $457,236, which is very reasonable compared to the surrounding area. Over the past year, home values have also noticeably increased by about 7.3 percent. When it comes to residential real estate breakdowns, the town has a predominantly owner-occupied housing market with about 83.2 percent of the population falling into this category.

This isn't to say that there are no renters; in fact, about 16.8 percent of the town's population rents. When it comes to home construction, there are several homes that have been built post-2000, but impressively enough about 18 percent of the homes in the town are fairly historic and were built pre-1939.

As a town that only has a little over 8,000 residents, it only has two distinct neighborhoods that include:

• Thurlow Street – Thurlow Street is slightly more expensive than the rest of town. Currently, the median real estate price in this area of town is about $501,641. Like other areas of town, this neighborhood is predominantly owner-occupied and vacancy rates are lower than three percent. In many cases, many of the properties here were built between 1940 and 1969, so there's certainly a sense of history in this neighborhood.
• Town Center – On the other side of the spectrum, the median home value for the town center is around $442,300. This is significantly inexpensive, especially considering the prices in neighboring cities. Rents in this part of town are also about 62.4 percent cheaper than the Massachusetts average.

Choosing the Right Investment Property

In just about any town in Massachusetts, you'll find several worthy investment options in the real estate market. That being said, not every type of investment is for everybody. Have patience? If you don't mind waiting, the capitalization rate on a multi-unit property can be very favorable, but you'll have to wait a few years. Looking to make some cash fast? If this is the case, then flipping a house and reselling it can be a good way to make money on an investment. This type of upgrading is called forced appreciation, and it can certainly provide a nice return on investment. Towns like this in the Boston area are steadily growing, so if you need help securing a particular property or if you just want to know what's available, contact us at Boston City Properties at 617-247-1933.

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