Randolph Multi-Family Homes

Randolph is a suburban city that rests in Norfolk County, Massachusetts. With a burgeoning population of more than 32,000 people, it's easy to see why this town is a good choice for anyone that wants a semi-urban, semi-suburban style of living. In addition to this unique style of living, the city is only about 15 miles from Boston, which makes it a great choice for commuters. In fact, Boston is easily reached by rail, bus, or car; Interstate 93 is in close proximity as well as Route 1 and South Station is easily accessible via the MBTA Red Line and Middleboro Line.

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As a result, there's a strong market for housing in the area; in fact, in the last year, home values have risen almost eight percent. Despite this upward trend, housing is relatively inexpensive in town, and by price per square foot, the city is about $40 cheaper than Boston Metropolitan Area average.

Purchasing a Multi-Family Home

If you're considering a property in this area, it's advantageous because house values are very reasonable. At the median level, the homes in Randolph have a value that falls around $345,500. This is significantly cheaper than many of the homes in surrounding Boston suburbs. There's also a tendency for city natives to live both in self-owned properties and rent, which means that purchasing a property that's multi-unit is a great way to go in this town.

While rental rates are somewhat low compared to the Boston Metro average, but so are home values, which means that you should be able to make a tidy return on investment in this area, especially because of its growing market. The area has its share of three- and four-unit options, which can even be used as owner-occupied property. When selecting this option, the investor can personally elicit repairs and maintenance, which is a good option for DIYers.

In this specific city, it's not uncommon for the colonial-style homes to have fireplaces, hardwood floors, and fully-equipped kitchens, all of which can be major selling points when trying to entice potential tenants. Add to this the fact that the town is conveniently placed near to Boston, and owning property here for multiple families can be very lucrative. If you are looking to purchase one of these types of properties, contact us at Boston City Properties; we have years of experience and can help you find a lead in town.

Selling a Multi-Family Home

The selling experience in this area of Massachusetts is fairly fast-paced due to its proximity to Boston, so finding a buyer shouldn't be difficult as long as you're patient. When you're thinking about placing your multi-unit property on the market, prepare it by:

• Repairing – Sometimes, repairs go undone due to budget, time, or a combination of these factors. When you're placing your property on the market, these can no longer be deferred. For this reason, hire a professional team to repair cracked baseboards, fix fixtures, and elicit any other repairs that need to be addressed.
• Cleaning – Grime, rust, and water stains aren't really acceptable when you're walking a potential buyer through your property, which is why you should hire a professional cleaning service to ensure that the property is in tip-top shape before the selling process even begins.
• Preparing Reports – Any educated buyer is going to want information on how much the property can be capitalized on, so to do this, they'll want expense reports, tenant agreements and leases, and utility info. Have this information ready before the buyer asks for it so that they can review the information.
• Contacting a Real Estate Brokerage – A real estate brokerage like Boston City Properties can really help you find the buyers that you want for your property. It can sometimes be tough to find people that are actually qualified for an investment like this, so contact us and we can provide you with access to our extensive list of contacts.

Neighborhoods in the Area

This town has five noteworthy neighborhoods that are considered very safe and welcoming. Here are a few details on each:

• Chestnut Street – One of the most interesting aspects of this neighborhood is its very low rents and reasonable property values; per month, the average rent is $826, which is significantly lower than many of the neighborhoods throughout the Boston suburbs. When it comes to properties, there are a wide array of properties on the market that date back prior to World War II.
• The North Section – For those looking for a more premium rental experience, many of the rental properties in this area are luxury-oriented, and as a result, the average rent in this area is over $2,200 per month. In this neighborhood, there's a good mix of both owners and renters.
• Oak Street – While the majority of property in this area is owner-occupied, there are definitely opportunities for rental property investment as well. This is also a very in-demand area for real estate ownership.
• Town Center – There are a lot of conveniences to having property in the town center; there are more retail opportunities and the mass transit are most conveniently reached in this area. Additionally, there are a wide variety of housing types to choose from.
• Selwyn Road – Another neighborhood in the city that blends both owners and renters, Selwyn Road is a great place to invest in. There is also a wide array of home types to choose from, and many of the properties here were constructed pre-1970.

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