Randolph Investment Properties

Randolph, which is a city that is located in Norfolk County with more than 32,000 residents, is a great option for any investor. This city is only 15 miles from Downtown Boston, and it is located right near I-93, which makes it very easy to reach. That being said, the real estate market in this area is performing exceptionally; in the last year, there has been an increase in the value of property in the area of seven percent, and it is expected to grow at least that much this year again.

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Residential and Commercial Investment Properties

Commercial and residential investments are both good options that you can consider in a large city like this one, but not every investment option is going to be worth your time or your money. That being said, there are also very profitable investments to make in the area when you choose the right type of property to invest in. Some of the options in this area include:

• Single-Family Homes – This is typically going to be the simplest type of investment, which makes it great for beginners and experts alike. When you own a single-family home, you can rent it out for a fair rental price for the area. This will provide you with enough money to pay the mortgage as well as save some back for maintenance needs in the future. Homes in this area can have anywhere from two to four bedrooms.
• Multi-Family Homes – There are a wide range of property options that fall into this category, but in general, this means owning a townhouse, an apartment building, a condominium, or duplex-style home. Most of these units have at least two units, so you will be able to reside in one to qualify for owner-occupied financing and still get rental income from the other units in the building. This is going to be a profitable option in most areas, especially if the building has several units.
• Commercial Properties – This is a great option for more seasoned investors to consider. It includes retail space, office space, gas stations, warehouses, and storage spaces. Typically, they take more to manage because they are larger properties, but there are options that can make management responsibilities less.

Real Estate Market Overview and Neighborhoods

The average price of real estate in this area is about $343,000, which equals out to about $237 per square foot. With such a large increase in the value of real estate recently and a low lower than most of the Boston Metro area, this is a great option for investors to consider. Before you dive into an investment, there are five different neighborhoods in the area worth considering:

• Town Center – This is an area of the community that has a little bit of everything to invest in. Housing options range quite a bit and there are retail and other commercial opportunities to consider as well. The average real estate value in the area is about $342,000.
• North Section – This is a more luxurious area in the city, which means there are luxury apartment opportunities as well as condos that you can invest in. In this area, rent tends to be about $2,200 a month, which can bring in a lot of rental income to cover maintenance costs and the mortgage.
• Chestnut Street – Rental prices in this area are lower than the majority of the city, but that means that there is a higher population in this area, which can be great for anyone interested in a commercial retail investment.
• Oak Street – Interstate 93 is right on the border of this neighborhood, which makes it a great location for commercial investments. There are also residential options in the area including new construction, which means that the area is growing.
• Selwyn Road – This is another area of the community that is great for investments because there is a large variation in the types of residential properties that are available. The median price for real estate in the area is about $350,000.

Choosing the Right Investment Property

Have you decided the type of property and the location that you want to invest in? If you have narrowed down your options, that's great, but it is still a good idea to have a real estate agent representing you through the process. Boston City Properties has years of experience with investment properties, so call us today at 617-247-1933 so that we can help you find the investment of your dreams quickly.

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