Ipswich Multi-Family Homes
Ipswich, located in Essex County, is small coastal town 28 miles northeast of Boston. The city has both a thriving tourism and clamming industry.
Neighborhoods
- The Little Neck and Camp Sea Haven neighborhoods, with a median real estate price of $539,512, are among the 27.3-percent highest-priced neighborhoods in the state and 12.5-percent highest-priced neighborhoods in the country. The average rental price, at $1,635, is higher-priced than 40.9-percent of neighborhoods statewide. The majority of the housing units are three- to four-bedroom, single-family homes and studio to two-bedroom small apartment buildings. Most housing units are owner-occupied and were built between 1940 and 1999. There is a high vacancy rate of 11.3-percent. The average commute time is between 15 and 30 minutes.
- The Linebrook and Pinefield neighborhoods, with a median real estate price of $509,218, are among the 31.5-percent highest-priced neighborhoods in the state and 14.0-percent highest-priced neighborhoods in the country. The average rental price, at $1,821, is higher-priced than 53.6-percent of neighborhoods statewide. The majority of the housing units are three- to four-bedroom, single-family homes; studio to two-bedroom apartment complexes; and high-rise apartments. Most housing units are owner-occupied and were built between 1940 and 1999. There is a vacancy rate of 5.5-percent. The average commute time is between 15 and 30 minutes.
- The Town Center neighborhood, with a median real estate price of $465,095, is among the 29.4-percent highest-priced neighborhoods in the state and 16.7-percent highest-priced neighborhoods in the country. The average rental price, at $1,418, is higher-priced than 28.5-percent of neighborhoods statewide. The majority of the housing units are three- to four-bedroom, single-family homes and studio to two-bedroom small apartment buildings. Most housing units are owner-occupied and were built before 1939 and between 1940 and 1969. There is a vacancy rate of 6.3-percent. The average commute time is 15 minutes.
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This is a small town with 13,835 residents 86.5-percent of whom work in white-collar jobs with the fields of computers and math employing more residents than 95-percent of the cities across the country. There are also more people employed as artists, designers, and in other areas of visual media than 90-percent of the cities across the country. With 50.32-percent of the adults having a bachelor's degree or better, the per capita income, according to the 2010 census, was $44,376, and $77,788 was the median household income. While 8.25-percent of the residents telecommute, the average commute for the rest of the residents is 35 minutes.
Of the 5,589 housing units, 71.9-percent are owner-occupied with a median home value of $509,218 and a vacancy rate of 7.6-percent. Since 2000, real estate values have appreciated 55.58-percent for an annual average of 2.49-percent. While 62.3-percent of the housing units are single-family homes, the housing units also include 8.4-percent townhomes, 15.0-percent small apartment buildings, 13.9-percent apartment complexes, and 0.4-percent mobile homes. At 32.0-percent, most of the housing units were built between 1970 and 1999 with 29.7-precent built before 1939, 29.5-percent built between 1940 and 1969, and 8.8-percent built since 2000. The average rent is $1,635.
This city does have a larger supply of multi-family housing, but it also has a moderate vacancy rate, possibly due to the seasonal tourist traffic. Our agents know the area and can guide you to properties in this city that will provide a good occupancy rate and a good return on your investment. Our large database will provide a lot of properties from which to choose in this city. Our agents can advise you of market trends, potential development, and zoning restrictions in the area. They can help you set your bid for the property you chose and guide you during negotiations with the seller. Hiring one of our agents protects your investment.
In this market with seasonal tourist traffic and a moderate occupancy rate issue, our agents can help you create a marketing plan and set a price that reflects the market with room to negotiate. Our large database will provide access to more potential buyers. When you receive offers, our agent will be able to investigate the ability of potential buyers to close quickly. They can help you avoid buyers who need to sell property before they can close. If their other property does not sell, they may default on the closing and cost you another potential buyer who may have bought other property. So let one of our agents help you sell your property quickly at a good price.
For the best results in this market, contact us to buy or list a multi-family property in Ipswich.
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