Milford Multi-Family Homes

Located in Worcester County, the city of Milford has a lot to offer its residents. The town is clean, has low crime, and has a welcoming populace. One of the best markets in town is its multiple-family home market; there are several opportunities for someone that's just looking for a home or a prime investment in a neighborhood that's up and coming. This is also a fairly well-positioned town; it's only about 40 miles from Boston and about 24 miles from Providence, Rhode Island.

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Purchasing a Multi-Family Home

If someone is interested in the real estate market in this town, checking out the homes that can house multiple families is a good idea. These homes include several subclasses such as:

• Duplexes, Triplexes, and Quadplexes – These properties house two or more units that are separated by walls. Typically, this type of property is a single house that's been divided into multiple unique living units, and these properties are typically rental units.
• Condos or Townhomes – Condos and townhomes are a good best of both worlds style of living; the residents own their individual units within the property, but an owner can still own the overarching property itself.
• Apartments – These are typically rental properties, and the majority of the tenants have signed temporary leases that span a few years.

Clearly, the experience of owning one of these properties can differ significantly, but each of these can be very beneficial to an owner. First, the market when it comes to these types of homes is currently in a growth phase around this town, and owners can reap a lot of benefits from the steady stream of income that one of these properties affords.

Secondly, a property of this type in this town can be somewhat inexpensive; the current media property value in town is a little over $290,000, which is significantly lower than the Massachusetts average. This means that property, even a unit that houses multiple families, will be cheaper than in many of the surrounding Boston suburbs, and property ownership of this type is a major portfolio builder.

If you're considering a purchase of a property in this town, consult Boston City Properties; we have expertise when it comes to all of the towns surrounding Boston.

Selling a Multi-Family Home

Over the years, as either a result of a property inheritance or a major move, some people find themselves with large properties that they would like to sell. When this happens in a town like Milford, there are several opportunities to get a larger property, like a home that can house multiple families, sold. Currently, the value of homes in this area of the state have gone up by at least five percent over the last year, which means that there is clearly an upward trend happening, and for sellers looking to capitalize, there should be more than a few options.

While selling a property of this type takes time, typically, there will be several buyers that are interested due to the fact that this town is well-placed in this area of Massachusetts. Of course, prospective buyers are going to want to visit the property, make negotiations that will fall beneath the asking price, and have professional inspections carried out, but in the end, if the property is well-kept, the sales phase can be relatively easy.

Need help creating a listing for your property? Boston City Properties can help, so call us today!

Neighborhoods in the Area

This town is made up of five different neighborhoods:

• Town Center – This neighborhood is actually in the southern section of town. Properties in this section are modestly priced; with many rents and mortgages falling well below the state average.
• The Northern Section – Despite generally low real estate values in town, the northern part is actually more expensive than about 43 percent of neighborhoods in the state. As a result, homes are typically more beautiful in this neighborhood.
• Prospect Street/Main Street – This suburban neighborhood also has a fairly high real estate price when compared to other Massachusetts areas. Trees dot the landscape; in fact, this is one of the most forested areas in town.
• West Street – Also connected to Fiske Mill Road, the West Street neighborhood in town has a slightly higher property price than the remainder of the state. This area has a very low rate of real estate vacancy, which means that it's a fairly safe place to own property.
• Rocky Hill – This area has a housing market that has real estate prices that are very inexpensive compared to the state average, and this is also an area of town that has a fairly family-friendly environment.

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