Lakeville Investment Properties

Lakeville, which is a town in Plymouth County, Massachusetts, has a population of over 11,000 residents. As the name might suggest, it's a lake town with more than few waterfront activities for residents to enjoy. The town is about 40 miles south of Boston, which means that it's in a commuter-friendly distance of the big city. In addition, the town is also about 30 miles from Providence, Rhode Island, which means that this is a great town for urban access for professionals.

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As a result, this is a very in-demand town that has a suburban atmosphere that's a nice respite for professionals that work in either city. With such a large influx of professionals, the town has a fairly strong housing market that can help an investor achieve some impressive returns.

Residential and Commercial Investment Properties

When it comes to the property investment experience, a town like Lakeville has a wide variety of options that include both residential and commercial opportunities. Which you select typically will have a lot to do with the type of financing you'll be able to secure, your patience level, and the timeframe that you're shooting for to receive a return of your investment.

In this particular area, the most prime investments will be in single-family residences, multi-family residences, commercial office space, and commercial retail space. Here's a breakdown of these types of investments:

• Single-Family Residences – Typically, this type of space can be either directly sold to potential homeowners or rented. In any situation, the allure of this type of property is that the resident will get to have things like a private pool, a yard, and freedom from neighbors that are only separated by a wall or ceiling. Owning a property of this type can provide extended cash flow when renting, or you can purchase and renovate and force the property's appreciation so that you can sell at a significant gain.
• Multi-Family Residences – These are almost always long-term investments, but one of the better advantages of this type of property investment is that you can live in one of the units and rent or even sell the remainder. As a result, these tend to be very safe investments due to the fact that they have a lower vacancy rate and typically don't suffer foreclosure because their rental income allows you to generate steady mortgage payments.
• Commercial Office Space – This includes office rentals to startups and small businesses. These types of investments shine because lessees not only pay rent, but they also pay into triple net leases, which include property taxes, maintenance fees, and property insurance as well. As a result, these properties tend to pay for themselves at a quicker rate. Any increase in the free market rent has a tendency to generate pure profit for the property owner.
• Commercial Retail Space – Retail leases also can be considered triple net leases, and as a result, these investments can generate fairly strong revenue streams. Most retail owners will have a lease that between five and 10 years because they want to have a stable location to build brand confidence. This means that you'll have a steady cash flow for a longer period of time.

Real Estate Market Overview and Neighborhoods

This lake town has a strong housing market; the median home value is $378,900, which is lower than many of the towns in the Boston Metro area. This is a growing market; in the past year, the home values have increased by 5.5 percent, and it is predicted to grow an additional four percent this year. Before you invest in property in this area, there are three neighborhoods that you should consider for your investment:

• Canedys Corner – Canedys Corner, which is also known as Precinct, has a real estate value of $440,000, at the median level, which is significantly more expensive than 82 percent of the neighborhoods in the country. Most of the homes in this neighborhood are single-family and townhomes that were built from 1970 to the present day. There is significant new construction in this area.
• Town Center – Town Center is a more established neighborhood in this town with homes that date back to the 1940s. There is a relatively high vacancy rate here, so multi-family properties may be a safer investment in this neighborhood. As a lakeside area, this part of town draws a lot of vacationers, which can provide seasonal income.
• North Lakeville – This neighborhood has a lot of apartment complexes and high-rise apartments, which makes it a good place to invest, especially since most rental properties with two- to three-bedroom configurations are about $1,800 per month. With that being said, the median home value is about $376,000, so you should easily be able to make your mortgage and more with the semi-high rental rates.

Choosing the Right Investment Property

Not sure which property type is best for your needs? Sometimes, consulting a brokerage is the best step that you can take. Contact us at Boston City Properties so that one of our licensed real estate professionals can help you make the right investment in this town. Call us at 617-247-1933.

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