Ipswich Investment Properties

One of the best aspects of the northeastern portion of the country is its coastal towns. Areas like Cape Cod are well-known vacation destinations, and there are towns peppered along the coast that have a similar status. Ipswich, Massachusetts, is one such coastal town that also happens to be one of the most college-educated areas of the state. The majority of the town residents work in white-collar industries, and currently, many of these residents own property within the town limits. That being said, almost 30 percent of the properties here are rental, and since this is a town that is known for its tourism industry, it definitely bears consideration for real estate investors.

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Residential and Commercial Investment Properties

With a fairly well-defined mix of properties in town, it can be hard to decide which type of property to invest in. Unlike other towns, even some of the more specialized commercial and residential properties can be successful in a coastal town like this, which is why you should know your options. Here are some of the properties that you'll be able to find:

Single-Family Homes

One of the best parts of owning single-family properties is that you have some excellent options. Not only are these fairly easy to finance through standard mortgage and government loans, but you can also choose to rent or sell these properties. Selling can be very profitable, especially if you take the time and effort to upgrade a property, which can force the appreciation rate.

Renting, on the other hand, is an excellent way to ensure capitalization and steady cash flow. While this typically takes longer to ensure a real profit, these types of properties are oftentimes sought-after, and you can rent them as summer homes to vacationers in a town like this one.

Multi-Family Homes

These properties can include duplexes, apartments, townhomes, and condos, and many of these multi-unit properties are available here. A benefit of this kind of property is that you can typically dwell in a unit and rent the others for a profit. These also tend to appreciate quickly.

Commercial Properties

In a town like this, just about any type of retail real estate can be profitable. For example, you can invest in a hotel or resort and hire a management team to run the day-to-day operations. You can also rent to businesses that need either retail or office space. These types of leases tend to last long, so there are a lot of avenues to high cash flow.

Real Estate Market Overview and Neighborhoods

This coastal town has three distinct neighborhoods that have some very interesting features for investors.

• Town Center – The center of town has a mixture of both renters and owners. This also happens to be the district of town that has the highest amount of historical buildings; many of the properties here were built pre-20th century.
• Linebrook – Known for the sprawling Turner Hill Golf Club, Linebrook is also a section of town that doesn't touch the water. As a result, this part of town is usually less affected by the town's burgeoning tourism industry. The vacancy rate around here is about 5.5 percent, which is lower than nearly three-quarters of U.S. neighborhoods.
• Little Neck – If you're looking to experience the clamming industry, this part of town is famous for it. When it comes to investments, this is definitely one of the more touristy sections, and as a result, this area, which is also called Camp Sea Haven, has a vacancy rate of 11.3 percent.

Currently, this town has a relatively cool market, but there has been marked growth in home values. Over the last year, the town has seen home values go up by as much as 3.7 percent. Towns like this that are known for their beautiful oceanfront properties are fairly unique; the majority of the cash flow will typically happen during the warmer months, but there are local year-round properties to consider as well.

The median home value here is $498,352, which is cheaper than some other towns in the Boston Metro area, and when judging price per square foot, you'll notice that this area is about $14 dollars cheaper than the Boston Metro average.

Multi-family homes actually are well-represented in this area; the combined market share for properties like townhomes, small apartment buildings, and apartment complexes equates to about 37.3 percent of the entire housing market. This is also a market with many historic buildings; currently, almost 30 percent of the properties have origins that predate the Second World War.

Choosing the Right Investment Property

Whichever type of property you choose to invest in, it helps to have someone in your corner. Boston City Properties is one of the largest brokerages in the state; we understand areas like this one and have the experience needed to find the best investment for you.

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