Mashpee Investment Properties
Mashpee is a town that is located in Barnstable County, which is part of Cape Cod. This coastal area of Massachusetts is a great place to invest because you have both long-term rental options as well as options that you can use for vacation rentals. The median value for homes in this area is about $393,800, which is quite reasonable for a nautical town such as this one. That means that the median price per square foot is about $275, which is much less than the average price for homes in the Boston Metro area.
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Residential and Commercial Investment Properties
When you consider investing in property in this area, you are going to need to consider a few things before deciding which property is the best option for your portfolio. Here are a few of the things that you will need to consider to ensure that you get the most profit on your investment:
- Rental Income – This is the amount of income that you expect to receive when you own property, so you will need to consider whether you are going to rent out the property on a long-term basis or as a vacation home. Then consider the monthly or weekly rate for the area and make sure that it will cover you're your mortgage and you have plenty left over for maintenance and repairs.
- Annual Expenses – Before you purchase a property, estimate how much owning the property is going to cost you each year. This should include the mortgage, property taxes, maintenance concerns, insurance, and vacancy costs. If you are going to have a vacation property, make sure that you include the cost of utilities as well.
- Capitalization Rate – This is the rate of return that you can expect to make on the property. You want to have at least a five to 10 percent capitalization rate so that you can have money in the bank in case it is needed to upgrade and renovate the property.
Real Estate Market Overview and Neighborhoods
In this area of the state, there are quite a few single-family homes available to invest, in fact, these homes are about 78 percent of the real estate options in the area. That being said, there are also quite a few multi-family homes and commercial investment options to consider as well. Since this is a vacation town, the vacancy rate of the area is higher than some of the towns in the area, but this is because seasonal occupancy is common here. There are four unique neighborhoods to consider before you choose property to invest in, which include:
- Popponesset Island – The southernmost portion of this town is mostly on the water. It is an area with a median real estate price of $608,000. The rent is over $2,000 a month in this neighborhoods, but if you rent out units as vacation property, you have the potential to make much more a month. There is a 65 percent vacancy rate in the area, so if you are considering occupying property here, that is worth considering.
- Great Neck Road North / Old Barnstable Road – This neighborhood has a much lower median real estate rate of about $406,000. Many of the homes here were built between 1970 and 1999. The vacancy rate in this area is about 20 percent.
- Mashpee Neck – If you are looking to invest in a property that has a lower median real estate value and higher rental rates, then this is a great neighborhood to consider. The median price for homes in the area is about $391,000, and the rental rates for the area are about $2,000. This area is comprised of single-family homes and apartments, which are ideal for vacation rentals.
- Town Center – this is the area of town that has the most year-round residency; however, the vacancy rate is still about 17 percent. The median real estate rate in this area is about $329,000, but the rental rates are still $2,100, which makes it a great place to invest in multi-unit homes.
Choosing the Right Investment Property
Mashpee is a great town to invest in, but finding the right property is going to be important, which means that you will need to contact a professional that is able to locate the most profitable investment opportunities in the area. Call Boston City Properties to ensure that you get the representation that you need when you are looking for an investment in the area.
The value of properties in the area has gone up by five percent in the past year, and it is expected to continue, which means that when you find the right investment, you will be able to profit as the area continues to grow. Call 617-247-1933 today for a list of the investment opportunities in the area.
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