Lynnfield Investment Properties

Lynnfield is a town that's located in Essex County, Massachusetts. This town is considered one of the most prosperous towns on the Massachusetts North Shore, and the home values in the area are also very reasonable for investors and prospective homeowners alike. Want easy access to Boston? This town is only about 16 miles from the city, which means that professionals can easily commute and those that want the suburb life can also easily travel to the city at a moment's notice.

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Residential and Commercial Investment Properties

Learning the real estate market takes time, and if you're going to be successful, it's going to take a lot of due diligence. Investment is all about making a return and ensuring positive cash flow, so before you jump into a real estate investment, it's crucial to understand the types of properties that are available. Typically, in an area like this one, you can expect residential properties like single- or multi-family homes or commercial properties like office space or storefront real estate. Here's a list of some of your options:

• Single-Family Properties – One of the best features of purchasing a single-family home is its versatility. Not only are these great for flipping, but you can also rent out a single-family home for a steady positive cash flow. If you're going to flip, which is upgrading a property, then you can make a fairly quick profit from the purchased home. These have a certain allure for young professionals just getting their start; in a town like this one, families can have a suburban life but also have access to the opportunities that come from an urban center like Boston.
• Condos and Townhouses – Similarly to flipping a house, purchasing condo units and properties and selling them back after an upgrade is a great way to make money. Additionally, these units can be purchased and rented out for a steady cash flow for the owner.
• Apartments – Apartments are some of the best options for an investor that's looking to experience steady cash flow and avoid the rigors of inflation. Tenants that stay in these apartments typically also only have one- or two-year leases, which mean that rent value appreciation can be taken advantage of very easily.
• Duplex-Style Homes – This town has its share of large homes. In fact, in the south section, homes with four- and five-bedrooms are common, which can easily be converted into multi-unit properties like duplexes. With a duplex, triplex, or quadplex, the tenants occupy a single floor on a multi-floor home.
• Retail Space – One of the best features of renting out retail space is how stable it is. When you're renting to a company, they'll sign long five-year-plus leases, which means nearly guaranteed cash flow for you.
• Office Space – This is a great way to seize on a triple net lease, which is a lease that will see that startup or small business tenants pay not only fair market rent but also for insurance, real estate tax, and maintenance as well. As a result, more expenses are taken care of with this property type so that your capitalization rate increases.

Real Estate Market Overview and Neighborhoods

This town is somewhat on the smaller side, which is why the town only has two primary neighborhoods. That being said, each neighborhood has its own style which can affect its value for investors. Here is a breakdown:

• South Lynnfield – As the least expensive of the two neighborhoods, the southern section of the town has a median home value that's around $665,200. Primarily, the market here favors single-family residences that are owner-occupied, but since this town has a tendency for homes that are on the larger side, an intrepid investor can convert these types of properties into multi-unit properties.
• Town Center – The town center here has properties that are around $772,180 at the median level, so this is certainly one of the more expensive Massachusetts neighborhoods. In fact, it's actually more expensive than 90 percent of the Boston Metro neighborhoods. This is the area of town that has the most rental properties, so if this is your preferred investment type, you'll find your best options here.

When looking at the town from an investment point of view, it's clear that growth is happening. Currently, the median home value here is $654,671, and in the last year, the town has seen this home value increase by 4.9 percent. The area also favors standard home ownership; currently, 85 percent of the properties are owner-occupied, which means that only 15 percent of the properties are rental.

Choosing the Right Investment Property

Investing in property is often one of the smartest ways to build wealth, and this type of investment is also a real portfolio-builder. That being said, it's a very detailed and complex process, which is why many first-time investors hire a brokerage. At Boston City Properties, we understand the various towns and cities in the Boston Metro area and have helped thousands of clients find their property. Contact us at 617-247-1933 so that we can help you today.

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