Malden Investment Properties
Malden, which was named the "Best Place to Raise Your Kids" in Massachusetts during the year 2009, is still one of the top locations to invest in Middlesex County. This is an area that combines both homeowners and renters, so if you are looking to invest in a property that will provide rental income, this is a city that is well worth considering, especially with 59 percent of the homes being occupied by renters.
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Residential and Commercial Investment Properties
If you are looking for pre-World War II property to invest in, then this is a great city to invest in. In fact, nearly 50 percent of all of the residential properties in the area were built before the year 1939. With a mere six-mile drive from the city to Boston, you can expect some of the growth that is occurring in Boston to spread to neighboring areas like this one. Here are some of the benefits of investing in this type of property:
- Appreciation – When you invest in property, you will be able to expect it to appreciate the longer you own the property. This is especially true if you are planning on updating and adding new features of the home that will add value to the property when a new buyer looks at it. This is called forced appreciation, and it will help you profit from your investment much more quickly.
- Rental Income – If you consider investing in property that you can rent out to tenants, then you will also be able to make a monthly income that can help pay the mortgage, the maintenance, and property taxes. This includes properties such as apartments, condos, duplexes, and townhouses.
Real Estate Market Overview and Neighborhoods
Currently, the median home value in the area is about $444,500, which means that it is higher than most of the Boston Metro area, but it is still a growing community that will create a hefty profit on your investment. In fact, in the last year, the home values in the area have appreciated about 10 percent, which means that with that appreciation value, you would double your investment in 10 years. This year, the home value is expected to rise at least another five percent.
There are 11 neighborhoods in the area that are worth considering; some of the more popular neighborhoods are:
- Oak Grove – IF you love historic homes, then this is an area that has charming architecture and many pre-World War II homes that you can consider for your investment. In fact, this area has more historic homes than nearly 97 percent of the neighborhoods in the country.
- Swains Pond Avenue – Many of the homes in this neighborhood were built well before the year 1939. The vacancy rate in this area is two percent, which means that it may be difficult to find property to invest in here.
- Maplewood – Home to Waitts Mountain Park, this is a family-friendly neighborhood that has a median price of $459,500.
- Edgeworth – This is an area of the city that is comprised of Victorian-style homes that were made into duplexes and triplexes. In fact, nearly 50 percent of the residential investment options in the area are these small duplexes and apartments.
- Highland Avenue – Home to Fellsmere Park, this neighborhood has median value for homes of $444,800.
- Faulkner – Small apartment buildings are plentiful in this neighborhood, but there are also other residential and commercial properties to invest in as well.
- Ferry Street / Essex Street – This is an area of the city where you will see bodegas and stores on the first floor of the building and apartments on the higher floors. This layout makes the neighborhood one of the most walkable in the country.
- City Center – If you are looking to invest in rental property, 85 percent of this area is studios, one-, or two-bedroom apartments that can be rented out.
Choosing the Right Investment Property
When you are looking to invest, choosing property that fits your style and financial needs can be difficult. There are quite a few options to consider in this city, so you may find it difficult to choose the best property for your needs. Boston City Properties knows the area and is able to provide you with the resources needed to help you invest wisely, so give us a call today at 617-247-1933.
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