Milford Investment Properties

This bustling Worcester County town was first incorporated in 1780 and has remained a popular area for centuries. With a great, convenient location, the town of over 28,000 attracts a range of individuals, couples and families looking to rent a home or apartment. This means that the community can be a great space for people looking to branch out further into property investment.

Click Here to Search Investment Properties

Built on the Mill River, the community was originally known for its granite quarries that yielded pink granite, of which several major regional buildings were constructed over the years. While granite fueled the area economy over a lengthy period, today the community is home to a range of businesses and enterprises as well as a large commuter population that regularly travels for work. Everything from car and computer businesses to a local newspaper thrives in today's community. In addition, the original river town focus of the community has also meant that the town continues to offer great options for those who want to enjoy the outdoors. In addition to riverfront recreational areas that offer hiking and biking trails, the town is home to 10 playgrounds and 20 parks and fields, in addition to the Upper Charles Trail. These areas make the town an appealing home for people who enjoy the outdoors as well as families who want to provide their children with room to play and grow.

The town offers convenient connections for commuters and carpoolers. Interstate 495 travels through the town, accompanied by a number of large businesses and restaurants. In addition, state routes 85, 16, 109 and 140 also travel through the community, providing easy access to other areas of the state. The convenient access to highways is appealing to Milford residents, who tend to prefer to drive to work.

Multi-family Properties

Multi-family properties can be particularly exceptional choices for investments here. There are a number of people looking to rent in the community, and duplexes, triplexes and quad-plexes can be particularly strong options. Properties in this community have continued to grow in price and desirability, and many people are looking to become residents of the town. This means that these properties and other small apartment buildings will find many reliable tenants looking for a great rental home. The rental properties here are suitable for individuals, couples and families; you can find properties with one-bedroom apartments or converted homes with several two- and three-bedroom flats inside.

As the community continues to grow, multi-family properties here are great investments that appeal to banks and mortgage lenders. In addition, there is the potential for forms of government-backed financing meant to promote investment in residential rental real estate.

Single-family Homes

Single-family properties can be another excellent choice in this area. Many people are looking to rent, rather than buy, but prefer to rent an entire home rather than an apartment. By choosing a single-family home as an investment property, you can reach out to these reliable tenants, including families and professionals who need office space for their work-at-home professions. You can find construction from various eras of community history here, from classic Colonial homes to newer construction choices.

Condo Investments

Another option for a property investor to consider here is an investment in a condominium or townhouse. Because most external upkeep is included as part of the monthly condo fee, buying a condominium can help an investor to have a clear plan for their overhead and upkeep costs for their rental. In addition, the amenities available in many condos make them particularly appealing choices for professionals looking to rent in the town.

Commercial Real Estate Options

With the town's easy access to Interstate 495, the community is an attractive option for retailers, restaurants and other businesses that want to reach the general public. In addition, there are a number of businesses that reach out to the town's residents, from banking and auto repair options to small shopping and dining ventures. There is a range of commercial tenants with which an investor can work here, from small local businesses to national chains seeking to establish a foothold.

There is a range of options for income properties in this community that can provide strong returns to an investor. The average price of a home here is $330,600, and that valuation reflects a long-term upward trend that is expected to continue in the coming years. Rental prices are also on the rise, with monthly rental income per apartment averaged at $1,888, well above other communities in the Worcester area. With its growth and wide appeal, this community can be a great investment. If you're interested in adding a property here to your portfolio, reach out to Boston City Properties. We can help you to explore the property landscape here and find an excellent opportunity.

Click Here to Search Investment Properties