Millbury Investment Properties

Sitting at the north of the Blackstone River Valley, Millbury is a town in Worcester County that offers a range of properties, from historic to modern. These homes can be a great choice for an investor seeking to explore the residential real estate rental market, especially as home values and desirability of the community continue to increase. With a population of 13,261, this historic town was first incorporated in 1813 after it arose as a local mill town. The town's origins are reflected on its name, and the Blackstone River that flows through the town's center also provided a strong basis for its economy.

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Today, the Blackstone River provides a central location for recreation, family fun and outdoor activities. The Blackstone River Bikeway connects Millbury to other nearby cities and provides a great option for people who enjoy hiking and biking. Community parks like the Elmwood Street Field offer playgrounds, hiking trails and more, while neighborhood parks in every community offer sports fields and children's areas. Small green spaces also dot the community, making it an excellent site for people who want a green, inviting space to raise children or enjoy nature as well as convenient access to work and other amenities.

The community includes easy access to a number of major highways, including Route 122a and Route 146. In addition, it is also close to Interstate 90, Interstate 290 and Interstate 495. The proximity of multiple highways has led to the development of an economic opportunity zone as well as a large shopping, entertainment and dining district that attracts attendees from the community as well as the broader area.

Multi-Family Properties

Property investors here can choose from a number of types of multi-family properties. Smaller apartment buildings are one option as are classic twin homes, duplexes, triplexes and quad-plexes. With convenient access to major highways, residential rental apartments here are desirable and in demand. This means that a multi-family property can be an excellent investment that an owner can find easy to rent to reliable tenants. In addition, there are also different types of properties that offer multi-family opportunities. Classic converted homes can highlight the appeal of colonial architecture, while newer construction can help investors save on renovation and upkeep costs.

The growth of the community also makes it attractive to banks, mortgage lenders and other parties who could participate in financing an investment here. Multi-family properties in this community are a reliable source of income as well as year-over-year growth here. In addition, it may be possible to secure government-backed financing that helps to promote investment in residential real estate.

Single-Family Homes

For many people who want to rent in this community but who need a bigger space, single-family homes are a great option. This means that you could choose a single-family here as an investment opportunity; it has a great upside for rentals as well as for future sale, as home prices are showing an ongoing upward trend. You can find historic single-family homes here as well as newer construction. Tenants looking for single-family rental options include families with children as well as professionals who need the space for a home office. Many homes here offer multiple bedrooms and a traditional home style, including spacious living, dining and even playrooms. This can make them especially appealing to people who enjoy the look of classic decor.

Condominiums and Townhouses

Another investment option can be condominiums or townhouses. These are often newer-construction properties and can be a great way to get started with real estate investing. Because the external maintenance aspects of the property are included in the monthly condo fees, there can be less uncertainty about the costs of overhead and upkeep involved in property investments. In addition, these communities can offer amenities that are particularly appealing to busy professionals in the town, including gyms, parking areas, community rooms and mail reception. These options can help make your investment appealing to many tenants.

Commercial Investment Options

In addition, the community is seeing an uptick in commercial construction and rentals. From national chains to local small businesses, there are a number of prime commercial tenants interested in the area. This means that it can be a great place to get started with investments in commercial real estate or to further develop a portfolio in retail, office space or industrial properties.

The average home price in this community is $278,600, reflecting an ongoing series of increasing valuations. The upward trend has continued sharply since 2012 and is expected to rise consistently in the coming years, pointing to the strong income potential of properties here. In addition, the average rental cost here is also on the rise and expected to continue to move in this direction. Average monthly rent in the town is $1,765, well above other options in the area, and many larger or more modern options rent for substantially more. If you would like to find out more about investment opportunities here, contact Boston City Properties. Our experts will introduce you to a range of properties and their income potential.

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