Hingham Investment Properties

As a town that's only about 23 miles from Boston, Hingham, Massachusetts, is a town on the South Shore of the state that's also one of the oldest communities in the nation. For those that are seeking a place with a history, this town is located right on Boston Harbor and was settled by English colonists almost 400 years ago. Currently, the town is experiencing a buyers' market and has had a home value growth of 7.5 percent in the last year. This neighborhood is fairly affluent, and as a result, the town, which has a population of 23,202 people, has median home values that are close to one million dollars.

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Residential and Commercial Investment Properties

With a wide variety of property types to choose from in this town, it can sometimes be difficult to decide which type of property is worth your investment. Primarily, the most common form of investment is single-family, but multi-family and commercial investment can provide excellent returns if you're patient. Let's take a look at some of the features of each type of investment:

• Single-Family – Many people flock to towns with a large amount of single-family homes, and this one definitely has a variety of luxury-equipped, large three- and four-bedroom homes. These properties also have a tendency to be relatively spread out in this town, which is a major bonus to most homeowners. Investors can either rent or sell these properties, but if you're selling, it's sometimes preferable to ensure forced property appreciation by upgrading the home.
• Multiple-Family – In this area, 19 percent of the properties are apartment complexes and an additional five percent of the properties are small apartment buildings. These type of multiple-unit properties provide excellent cash flow, and the capitalization rates can be very short when considering that these types of properties appreciate quickly. For an added bonus, you can even live in one of the units yourself.
• Commercial – Commercial properties include hotels, office, and retail spaces, and for the sake of this neighborhood, the two safest investment bets are office and retail. These properties have the benefit of appreciating with the market at a very quick rate, and lessees have a tendency to lease for longer periods than in residential situations.

Real Estate Market Overview and Neighborhoods

This town has four neighborhoods of varying sizes. These include:

• Town Center – Being situated on the northern coast of the state, the town center is also used by some as vacation property. As a result, the vacancy rate of this neighborhood is set at eight percent, which is relatively high. That being said, home values are fairly high here; a single-family home, at the median level, goes for about $876,796 here, and rental rates are about $2,297 per month. This is also an area of town that has primarily owner-occupied housing.
• Cole Corner – This part of the town, which doesn't touch the shoreline, has a much lower vacancy rate of 1.8 percent, which is actually lower than the majority of neighborhoods in the nation. As a result, this is a great neighborhood to invest in year-round residential or commercial real estate.
• Liberty Plain – Liberty Plain is the largest neighborhood in town, and it also has the lowest home value median. In many cases, you can find property in this part of town in the $700,000 to $800,000 range. This neighborhood also has the newest properties; many of the homes here were built as recently as the year 2000.
• Crow Point – This neighborhood has a large number of high-rise apartments and complexes, but it also has a high number of owner-occupied homes as well. As a result, it has a fairly strong housing market that has something for just about every type of investor. Homes here also have a tendency to be very historic; you'll even find some homes that predate the 20th century.

If you're looking for an overview of the town itself, this part of the South Shore has a population that works in many white-collar industries. Additionally, much of the population also are managers or are in sales. The median home value in town is about $801,441, and the price per square foot, which is $412, is significantly higher than the Boston Metro area average of $276.

About 81.6 percent of the population lives in owner-occupied housing, and about 18.4 percent live in rental properties. The rental properties in this area typically have luxury amenities, and the average rent per month in this market is about $2,297 per month. Clearly, there is a market for both single-family and multi-unit properties in this area, which is a major benefit for property investors.

Choosing the Right Investment Property

Simply put, not every type of investment is for everyone, so what's best for you? Finding this out will depend on your level of patience, capital, and how much work you're willing to put in. Not sure which is best? Call Boston City Properties at 617-247-1933, and we can help you find the property that will best suit your needs so that you can make a sizeable profit on your next property buy.

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