Hopkinton Investment Properties

This town in Middlesex County, Massachusetts, which is well known as the starting location for the Boston Marathon, is a great place to consider investing. At only 35 miles from Boston, commuting from this town is easy for professionals and students who want to live outside of the city. Currently, it is a buyers' market in this area of the state, which means that the area is ripe with properties to select from. The median home value in the area is about $580,000, which breaks down to about $266 per square foot.

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Residential and Commercial Investment Properties

In this area of the state, there are quite a few commercial and residential properties available for you to invest in. The question is: which one is going to be right for you? Well, before you make a decision, there are several investment options that can be beneficial. These include:

• Single-Family Homes – This type of home makes up the majority of the town. Though there are other types of homes in the area, this type makes up 81 percent of the residences in the area. Investing in a single-family home is well worth your time. The longer you own the property, the more it is going to appreciate in value, especially if you are going to upgrade things inside the home to make the value go up. You can also rent out single-family homes to professionals who are looking to live in the area. The demand for property is high here, so renting out your investment should be a consideration.
• Multi-Family Homes – This type of home is not as prevalent in this community, but they do still make up about 19 percent of the homes in the area. One of the most common types of multiple family homes in the area are townhouses, which will provide you with a few units that are connected at the walls.
• Commercial Properties – Since this town is growing so much, there is a great opportunity to invest in commercial property as well. Office suites are an option worth considering, but if you want to make more of a profit, then retail space is the commercial opportunity to look into.

Real Estate Market Overview and Neighborhoods

With a population of about 17,000 residents, this is a great community to invest in. The crime is low, the education options are exceptional, and the area is full of art patrons who add flavor to the town. There are three neighborhoods in the area worth exploring, which are:

• Hayden Row / Camp Bob White – This is actually one of the pricier neighborhoods in the area; with a median real estate price of about $672,700, it is actually more to purchase a home here than in 91.6 percent of the country. The vacancy rate is 0.7 percent, which means that demand for property in the area is high. That being said, if you can find an investment in the area, the rental rates are $2,600 a month, which is a pretty nice income, especially if you have a few rental properties to consider.
• Woodville – This is an area in the town that consists of mostly townhouses and single-family homes that were built between 1940 and 1999. The average price of real estate here is about $587,800, which is roughly the median price of the Boston Metro area.
• Town Center – This is an area of town that is built up a little more than the other neighborhoods, which means that there are commercial investment opportunities as well as residential. This area consists of mainly townhouses and single-family homes.

Choosing the Right Investment Property

One of the most important things to consider when you are investing in property is that each investment opportunity is not going to be the best option for your portfolio. That being said, there are a going to be some great options for you to take a chance on and some that are a little less safe, which is why finding the right investment is important. If you need a professional opinion about the properties in the market in this city or simply need more information about the area, call Boston City Properties today. Our expertise in the real estate market in the area will be a great tool that you can use to find property that will increase in value and help you profit.

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