Holden Investment Properties
If you're looking for a housing market that's currently "very hot," then Holden, Massachusetts, which is part of the Worcester Metro area, is an excellent choice. Not only are homes available at a very reasonable price, but over the last year, the housing market has seen a 6.5 percent increase in home values.
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The town itself has a population of 18,799, and the majority of the population works white-collar jobs. Not only is this town close to Worcester, but it's only about 55 miles from Boston, which means that it's in commuter-friendly distance from both cities.
Residential and Commercial Investment Properties
When you intend to invest in real estate, it's a good idea to seek out a certain type of investment that works best for you. Fortunately, if you know what you're doing, most types of real estate can generate good cash flow and capitalization rates. With this in mind, let's take a look at property types so that you can find which one sounds best for your needs:
Single-Family Housing – These are almost always attractive to prospective home buyers because owning property is the American dream. As an investor, you should be able to find several finance options including standard mortgages to help you pay off the price of one of these homes.
If you're looking for short-term profit, it's a good idea to purchase a property and then upgrade it. Once the upgrades are complete, you can resell the property for a profit. This is called forced appreciation, and it's a great, quick way to make a profit on a property investment.
For a single-family unit, you can also make money long-term as well. Not everyone has money for a mortgage, but the single-family home is still something people want, which means that there are opportunities in renting these properties as well. This creates consistent month-to-month income and it also provides good capitalization as well.
Multi-Unit Properties – When you have a property that can house multiple families, there is a good chance of five to 10 percent capitalization. These properties are good long-term investments because they often appreciate the longer you own them. Additionally, these also are amazing portfolio builders, especially considering that these properties have multiple units.
Commercial Real Estate – Appreciation tends to happen fastest with commercial real estate. This type of real estate varies somewhat as well; you can choose office, retail, or you can invest in hotels or resorts. In a town like this one, the first two options can generate a lot of monthly income, and usually, commercial real estate has longer lease periods.
Real Estate Market Overview and Neighborhoods
This town has four neighborhoods that include:
- Town Center – The center of town is beautiful and has some of the oldest buildings in town. In fact, it's possible to find buildings here that predate the 20th century. Properties here are less expensive than almost 68 percent of the neighborhoods in the state. Most of the real estate here is owner-occupied.
- Shrewsbury Street – With a good mix of rental and owned properties, Shrewsbury Street is a good place for an investor. Not only are there residential properties aplenty, but it's also possible to find commercial real estate opportunities here as well.
- Quinapoxet – Quinapoxet, which is on the north end of town, is slightly more expensive than the surrounding neighborhoods. The vacancy rate here is below four percent, which means that this neighborhood has less vacant properties than almost 85 percent of the nation's neighborhoods.
- Dawson – Also referred to as Camp Kinneywood, Dawson is a neighborhood that has a higher home value than the other neighborhoods in town. At the median level, real estate prices are about $400,405.
In this town, the majority of the properties are owner-occupied. In fact, about 88.3 percent of the properties are lived in by owners. This isn't to say that there aren't opportunities for those that want to invest in rental properties; almost 12 percent of the properties in town are available for renters.
When it comes to the breakdown between housing types, the overwhelming majority of these homes (83.4 percent) are single-family units. The remainder of properties, which are all multi-unit, are split fairly evenly at about five percent apiece.
Choosing the Right Investment Property
For those looking for an area to invest in, this particular town certainly has options. That being said, the property investment that you select will depend on what you're most comfortable with. It's always a good idea to consult with a brokerage before you enter into a real estate investment, which is why we've had thousands of satisfied clients at Boston City Properties. Let us help you find the property investment that will give you the return that you want – call us at 617-247-1933.
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