Milton Investment Properties
This historic small town south of Boston is nationally known for its beauty, comfort and excellent properties and amenities. Ranked as the 14th best small city in the United States, Milton is home to many classic homes and green spaces. Time and time again, the city has appeared repeatedly on Money magazine's list of best places to live.
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The community was founded in 1662 on the Neponset River and soon became an industrial town focused around a local mill. As industry developed in the area, the community developed streetcars and markets that drew a range of shoppers and residents. The city became the home of America's first piano factory and the Granite Railway. Many of the classic homes built in the early days of the town can still be found throughout the community. In addition to historic homes and buildings, the community also hosts many green spaces and nature areas. The Blue Hills Reservation offers hiking and biking trails, and the Blue Hill Observatory provides a fascinating look into the history of weather. The city is also home to Houghton's Pond, a 24-acre body of water that stretches up to 42 feet in depth. The pond is open for swimming, fishing and other outdoor sports.
In addition to its exceptional amenities, the town is part of the MBTA district and is home to the Ashmont-Mattapan High Speed Line, a light-rail extension to the Red Line subway. There are four stops located in the town, Milton, Central Avenue, Valley Road and Capen Street. Once a steam railway, it became a trolley line and then today's light rail. The community also offers easy access to major highways, like Route 28, Route 128, Interstate 93, U.S. 1 and Route 3.
Multi-Family Properties
Multi-family properties in the city are great investments in high demand. You can find larger apartment buildings as well as classic duplexes, triplexes and twin homes. These properties offer multiple apartments within one building and the size can vary from studio or one-bedroom apartments to two- and three-bedroom options. Because the community is so desirable, these rentals can produce substantial monthly income. In addition, as home values continue to rise, the value of the property itself can grow, making the investment doubly worthwhile. You can find options with a range of architectural styles, from classic homes that show off the historic roots of the community to newer construction with modern lines. Many of these properties offer backyard access or balconies to tenants.
These properties can be a great source of ongoing income that attracts reliable tenants. Because there is such high demand for apartments with excellent transportation access and a strong community feel, many mortgage lenders and banks would look favorably on financing a rental real estate investment in the community. In addition, some forms of government-backed financing may also be available to property investors who provide residential rental properties.
Single-Family Homes
Single-family homes are another exceptional investment opportunity in this community. While many people look forward to their own single-family home as a major purchase and a step away from an apartment, many individuals, couples and families would prefer to rent a whole house rather than a smaller space. Homes in the town are highly desirable and can be expected to appreciate in value even as you bring in monthly income through rentals. Many of the homes in the town are spacious and offer classic finishes and layouts alongside modern kitchens with stainless-steel appliances and granite counters. This means that single-family properties here can be great high-end rentals for families or professionals who want plenty of home-office space.
Condominium Opportunities
Townhouses and condominiums represent another option for a property investor who wants to enter the market here. These homes are part of a community that provides exterior maintenance services for a monthly fee. In many cases, these communities are also home to enticing amenities like community rooms, gyms, roof decks, mail receiving services and other options that can make the experience more attractive to professionals. In addition, the set monthly fees can cover a significant amount of maintenance and upkeep costs, helping new investors to budget and manage their costs.
Retail and Office Properties
Commercial real estate can be another exciting opportunity for investors here. Directly part of the Boston metropolitan area, real estate here is appealing to businesses of all kinds, from national corporations pursuing larger office spaces to trendy restaurants and shops looking for small areas on a walkable street. An investor in commercial real estate can find a number of valuable properties that can provide long-term, steady income over the years even as their own value grows.
The average home in Milton is valued at around $651,900. Over the years, there has been a consistent upward trend in property valuations here, a trend that is expected to continue to grow over time. Home values have shot up nearly $300,000 on average since 2012, a striking example of just how attractive property is in this area. In addition, rentals here bring in a substantial monthly income. The average monthly rent in the community is $3,015, well above the monthly average throughout the Boston area. If you'd like to explore property investment options in this city, contact Boston City Properties to learn more about opportunities available for you.
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