Rockport Investment Properties

Massachusetts has some of the most beautiful coastal cities and towns in the United States, and as a result, these are some of the most vacationed towns on the east coast. Rockport, which has a population of 7,209 residents and is situated on the North Shore of the state, has become a place of intense interest by investors. Not only is the town beautiful, but it's also only about 40 miles from Boston, which is well in the range for commuters. In addition, there are also MBTA stops throughout town so that residents can commute conveniently to Boston's downtown area. Not only are standard residential and commercial investments available in this town, but seasonal investment property can also be found here.

Click Here to Search Investment Properties

Residential and Commercial Investment Properties

If you're thinking about investing in this area, it's important to note that Rockport has a lot of seasonally occupied residential real estate. For example, in the town center, the vacancy rate is over 30 percent. This is due to the fact that many of the properties are vacation properties, which means that they are only really occupied when the weather is warm outside.

This isn't to say that the town doesn't have its share of standard commercial and residential real estate, but it's just crucial that you understand that the population spikes much higher than its 7,209 during the warm months, so the off months may produce less capital.

When taking a look at the residential market, there's a good split between property types. For example, 66 percent of the properties here are single-family homes that are predominantly owner-occupied. The remaining piece of the pie goes to multi-family properties and other types of living options, which means that there are a lot of possibilities for investors looking for properties that can be rented out.

Properties here typically go for around half a million dollars at the median level, so this area tends to be slightly more expensive than in the Boston Metro area. Multi-family properties, which include apartment buildings and condos can range in rental price in this area.

When it comes to commercial investment real estate, retail can really be a major winner here due to the huge influx of vacationers that flock to towns like this on the North Shore. With a retail property acquisition, you can certainly benefit by renting to businesses that require longer lease periods; this way, you can receive steady cash flow, even when business is slowing down during the cooler months of the year.

No matter which property you opt to invest in, there are more than a few advantages to purchasing property in a town like this one. Here are a few to consider:

• Appreciation – Real estate is one of the surest appreciating investment options out there. Simply put, even fairly unpopular areas of the state will appreciate in value as time passes, and if you own property in a popular location like this one, you can bet that it'll increase in value over the years. Also, you can force appreciation by adding renovations to the property, which will increase the market value of your investment.
• Retirement – Property that you own and run today can easily be used to make you more comfortable in your retirement years. You can opt to sell it to a new owner later, which will provide you with a lump sum to live off of, or you can simply rent the property and have it managed by a management company. This way, you can have a steady retirement cash flow.
• Lower Maintenance – If you're going to be investing in property out here that can be used for vacationers, then you can expect to experience some vacancy during the colder times of the year. As a result of no occupants, you'll require less money for upkeep, but the fact that the summers can be very lucrative here means that you can easily recoup the money not earned during the off-season.

Real Estate Market Overview and Neighborhoods

This town is relatively small, and as a result, it really only has two neighborhoods that include:

• Town Center
• Ocean View/Pigeon Cove

Both of these neighborhoods are on the coast due to the fact that the town is surrounded by water on three of its sides, so investing in commercial, residential, and vacation property is a good idea throughout both neighborhoods.

Choosing the Right Investment Property

When you're starting out in the investment world, it's a good idea to engage with a brokerage that can help you find out which properties are available for acquisition. Boston City Properties has been helping clients for many years now, and we have extensive lists of properties throughout the state, so give us a call today at 617-247-1933.

Click Here to Search Investment Properties