Norwell Investment Properties

Located approximately 23 miles from Boston, this town of Norwell, Massachusetts, is a great place in Plymouth County that is great for an investment. With a population of about 10,000 residents, this area is considered home by many professionals, which means that there are both commercial and residential opportunities in the area. The median price of homes and other real estate in the area is about $617,000, which is slightly more than the Boston Metro area average, but many professionals will pay more to rent a home in the suburbs. In fact, the value of the real estate in the area went up nearly eight percent in the past year, which is a great profit for any investor.

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Residential and Commercial Investment Properties

Both residential and commercial properties can be quite a beneficial investment, but many investors tend to lean towards one or the other because they are more comfortable with that type of investment. Having property that is an investment does not mean that you need to have a business run out of it; in fact, many homes can count as investments as long as you are receiving some type of income from the property regularly. So of the types of property that fall under this umbrella include:

• Single-family homes – This is the easiest type of investment to make, which makes it ideal for those who are new to investing in real estate. You will be able to rent out the home to a family for a monthly rental rate that you agree upon to be a fair market price. The monthly income that you get can be used to pay the mortgage, but about 10 percent should be set aside for maintenance and repairs on the property. You can also simply update and fix the property to appreciate the value of the home and resell it for a profit.
• Multi-family homes – This includes apartments, condos, townhouses, and duplexes. Most of these property types have at least two units that you can rent out, so you will be able to get more rental income per month, but you will also be responsible for the repairs and maintenance in all of the units as well.
• Vacation homes – If the town that you are considering investing in is a known as a vacation spot in Massachusetts, then you can invest in a home that you can use yourself for a few weeks a year and rent out the rest of the time to increase your cash flow.
• Retail space – Retail options are going to be in every neighborhood, but it is important that you choose a retail space that is in a good area so that businesses flock to your property instead of avoiding it.
• Office space – If you are investing in an area where a lot of professionals live, then office space may be a great investment option for startups and small businesses in the area to use for a monthly rental fee.
• Storage facilities and warehouses – These are commercial options that require less to maintain, so as long as you are able to maintain the common spaces and find individuals to rent the space, you will make a profit quickly.

Real Estate Market Overview and Neighborhoods

The location of the property that you invest in within a community is very important. This area of Massachusetts has two constituent neighborhoods, which are:

• Town Center – Located in the northern part of this community, the median real estate in this neighborhood is about $583,000, but there are high vacancy rates and the demand for property in the area will make investments difficult to find. Single-family homes and high-rise apartments present great investment opportunities, and there are also commercial opportunities here as well.
• Kings Landing – If you are looking to invest in a well-to-do neighborhood, then Kings landing is a great option. The average price of real estate in the area is about $737,000, but if you can find rental properties to invest in, rental rates in this neighborhood are higher than 95 percent of the state, which means that you can make a nice income off of rental income alone.

Choosing the Right Investment Property

This is a town that many investors look to for new investments, and because of this demand, finding something that fits your portfolio can be difficult. Call Boston City Properties today at 617-247-1933. We know the real estate market in this area of the state, and we have been helping investors find profitable property for years.

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