Littleton Investment Properties
Littleton, which is a historic town that is located in Middlesex County, is a town that is only about 31 miles from Boston. This means that it is easily within commuting distance for professionals that want to live outside of the city. In this area, there is a median home value of about $464,000, which is approximately $30 less per square foot than the average price for a home in the Boston Metro area.
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Residential and Commercial Investment Properties
The first step to investing is deciding whether you want to invest in residential property or commercial. If you choose a residential property, you will have the choice of a single-family home or a multiple-family unit. In this community, single-family homes make up about 85 percent of the residential investment options, which means that they are going to be worth considering. These properties tend to have a lower price point, and if you update the home as you own it, you will force appreciation on the property.
Multi-family homes are also a great option in the area, but since these types of homes only make up for about 11 percent of the homes in town, they may be a bit more difficult to find. If you are looking for a multi-unit home in the area, then apartments are the most plentiful option to consider. Many of the homes in this area were built between 1940 and 1999, which means there is a character in the town that is created by the architecture of the homes.
Commercial options in the town are plentiful as well. You can invest in a retail space that you rent out for a period of five to 10 years at a time. This ensures that you are getting a steady rental income, and it also ensures that the renter's customers know where they are located. You can also consider investing in office space in the area, especially considering that this is a white-collar town that is full of professionals.
Real Estate Market Overview and Neighborhoods
This is a town that is not a very large one, but there are still two different neighborhoods that you should consider before deciding where you would like to invest. In this area, all of the neighborhoods have highly rated schools that are designed to give the children a good education. In fact, 51 percent of adults have a college education in the town. The neighborhoods to look into are:
- Town Center – With a median real estate price of about $490,500, this is the more expensive neighborhood in the community. There are quite a few single-family homes and apartment complexes in the area for you to consider, most of which were built between the year 1970 and 1999. The vacancy rate in this neighborhood is only 3.3 prevent, which means that this is an area that is in demand.
- Littleton Common – This is an area that is mostly made up of single-family homes or small apartment buildings that were converted from single-family homes. Many of the homes in this area are a bit older than they are in the Town Center, being built between 1940 and 1969. In this neighborhood, there are a few ponds and parks, which makes it a great area to raise a family as well.
Choosing the Right Investment Property
This is a growing town, which means that making the right investment could benefit you greatly. In the past year, the median home value in this small town has increased by about six and a half percent, which is quite a return on your investment. In addition, this growth is expected to continue, and in the coming year, the rate for homes in the area will rise at least another four percent.
If you are having trouble deciding which type of investment that you would like to make, remember that there are several, so settling on the first one that you find is not always the best option. A professional real estate broker like the ones that can be found at Boston City Properties knows about the area and the investment opportunities that are available in the area. Call 617-247-1933 for more information and a list of the investment opportunities in the area.
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