North Attleboro Multi-Family Homes
Situated on the border of Rhode Island, North Attleboro is a town that has a thriving population, and thanks to consistent growth in both Boston and nearby Providence, this town has experienced real estate market growth of 6.3 percent just in the last year. As a result, this is an excellent area to own property; the houses are large, and with a median price of $355,380, they are very affordable as well.
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Purchasing a Multi-Family Home
As an industrial town, this part of the state of Massachusetts has several opportunities for property ownership, but this is also a prime area for renters as well. Currently, the median rent is only around $1,090 in many parts of town, which makes this area a very inexpensive place to live. With so many well-priced rental costs and with a relatively low cost of living, purchasing a property with multiple units can be a fairly strong investment, especially considering how robust these types of properties are for appreciation.
If you're considering this town for your next investment, you should look into the area and see what types of properties are on the market. Currently, the market has just about every option for multi-unit housing including condos, duplexes, and apartments, so there are definitely opportunities out there. Additionally, many of the larger houses in town fall well within that same median home value, which means that a dedicated investor can typically convert these housing options to either a duplex or a townhome.
From a unit by unit perspective, once you lock in a potential buy, you'll also need to inspect the property before you close. This means ensuring that all utilities are operational – the last thing you want is to discover that a property isn't winter-ready in the northern part of Massachusetts. Additionally, you'll want to take note of all of the major amenities and ask questions about the features that are available in each unit. Are there hardwood floors in the apartments? Are they in good condition? What kinds of appliances are in the kitchens? What's the status of the baseboards?
Demand for real estate in this area, especially in neighborhoods like Adamsdale, is high, but with Boston City Properties, we can help you walk through the process so that you can find a good property for your needs. Give us a call and we can discuss it with you.
Selling a Multi-Family Home
With its relative proximity to towns like Boston and Providence, this northern Massachusetts town has a market in which you should be able to find interested buyers. Just remember that selling a property of this type will require a little bit of effort on your part.
First, it's essential that you have your records ready for any interested parties. Most buyers will want to know how a building performs as a revenue generator, so providing them with rent statements, tenant lease records, and utility bills is crucial. Also, having these records readily available will also boost confidence, which can help power a sale.
In addition to this, always be patient with prospective buyers; getting excited due to a lowball attempt can stall or end negotiations. When a buyer goes very low, explain that the property is worth more and list the amenities that make the property worthwhile. Sometimes, investors will lowball with no intention of going higher. When this is the case, simply thank them for their time and move on to the next interested party.
For help selling your property, contact us at Boston City Properties so that we can help you connect with our thousands of contacts.
Neighborhoods in the Area
This town is comprised of several key neighborhoods, which include:
- North Attleboro Center – Also referred to as the village of the town, this area is well known for the historic homes that are peppered throughout the area. Many of the homes in this town actually are occupied by a fairly even mixture of owners and renters.
- Adamsdale – Adamsdale is one of the more well-to-do areas of town, but there are housing options that are relatively cheap compared to the Boston Metro Average. In fact, on average, there are rents that fall around the $1,000-mark.
- Carlson Road – If you're looking for a part of town that has a low vacancy rate, Carlson Road has the lowest in the area. This suburban area has a mix of both owned and rented properties and most properties were constructed between 1970 and now.
- Attleboro Falls – The homes in this area have a real estate price that's actually less expensive than over 85 percent of the neighborhoods in the state. Additionally, owners and renters occupy the majority of homes in this area.
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