Haverhill Investment Properties

If you are looking for an investment opportunity in the suburbs of Boston, then Haverhill is a great place to begin your search. It is a hilly city that is located in Essex County, and it is only about 35 miles from Boston. This is not a city on the water, but it is only about 17 miles from the ocean. In addition, the median home value in this area is about $304,000, which puts property here at about $100 less per square foot than property in the Boston Metro area.

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Residential and Commercial Investment Properties

If you are looking for property to invest in, there are quite a few different options to consider. Single-family homes are ideal in this area, especially if you plan to simply build onto the home to increase the value. A multi-unit home is great if you are looking for an investment that has units that can be rented out so that you can get a rental income all year. This option includes duplexes, townhouses, and apartments. Typically there are two to four units in each, which means that even if you live on the property, you will be able to rent out units as well.

There are also commercial properties that you can invest in. Typically, these are properties that are used as an office building or as a retail space. If you are looking for a retail space to invest, call Boston City Properties today!

Real Estate Market Overview and Neighborhoods

There are a total of 10 neighborhoods in this city, all of which have unique real estate options that are worth considering. These neighborhoods are:

• Rocks Village – Most of the homes in this neighborhood are owner-occupied, single-family homes that were built between 1970 and 1999. However, there are some townhouses in the area if you are looking to invest in a multi-unit home.
• Ayers Village – This neighborhood is positioned right next to the New Hampshire state line. There are quite a few single-family homes and townhouses in the area, but the vacancy rate is 3.2 percent, which may make finding property to invest in difficult. Currently, the median real estate price in the area is $376,000.
• Kenoza Avenue / Concord Street – This is a prime location if you are looking to invest in the area. The property available here consists of mostly single-family homes and small apartment buildings. The average price for purchasing a home in the area is $366,500, but if you are able to find property that you can rent out, the average rental price in the area is about $1,850 a month.
• Zion Bible College / Salem Street – If you are looking for an investment that you can use as a rental property, then this neighborhood is a great option. Made up of mostly small apartment buildings and single-family homes, the average rent in this area is about $2,375, which is more than 82 percent of the neighborhoods in the state.
• Rosemont – With a median price of $339,000, this is a neighborhood that is full of opportunities. Most of the homes in the area were built after 1970, which gives the neighborhood a modern feel. In addition, the vacancy rate is only two percent, so finding the property that you want may take a while.
• Riverside – This area is full of parks, which makes it a very walkable area to enjoy. In addition, many of the homes in the area were built before 1939.
• Primrose Street – This is an area that has plenty of commercial and residential investments to consider. The median price for real estate is $307,000, and many of the homes were built during the 1930s or before.
• Ward Hill – The median real estate price in this neighborhood is $302,000, which is significantly lower than some of the other neighborhoods in this city. Most of the homes in the area were built after 1970, but there are a few older homes in the area worth exploring as investments.
• Bradford – This is one of the cheaper neighborhoods in the city with a median price of $281,000. There are a lot of older single-family homes and apartments in the area, but most of the homes are small apartment buildings that have been converted from single-family homes.
• Hilldale Avenue / Monument Street – This area has a less than two percent vacancy rate, which means that the property here is in high demand. With the majority of the homes being built after 1970, the median price for homes in the area is still only $276,900.

Choosing the Right Investment Property

When you decide to invest in property in a city like this one, you are going to need to find a property that fits your needs. You are not going to want a multi-unit home to maintain if you do not want to deal with tenants. If you need help finding the perfect property to invest in, call Boston City Properties today at 617-247-1933.

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