Rockport Multi-Family Homes

Set in Essex County, Massachusetts, the town of Rockport is a beautiful town that lies directly east of the coastal town of Gloucester and is itself surrounded by water on three sides. This beautiful coastal town is also close enough to Boston to allow for a daily commute; in fact, from the town, a resident can easily arrive in the city in less than an hour. When it comes to public transportation, the city even has the Newbury/Rockport line of the MBTA, which runs all the way to downtown Boston.

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Currently, the population of this seaside town is 7,209, and this population spikes during the summer months due to the fact that the area gets a huge influx of vacationers from all over the country. Over the course of the last year, the town has experienced a significant 12.9 percent growth in its real estate market, which makes it a location to watch for investors.

Purchasing a Multi-Family Home

When considering a property in the area, it's a good idea to really take a look at the multi-unit property market. These properties hold several families and can produce a significant monthly income for the property holder. Additionally, Boston is currently undergoing a major growth period, and hints that major companies like Amazon may move to the city has definitely spurred interest in the surrounding Boston suburbs. As a result of this, purchasing a property that can accommodate several families can be an excellent investment that can yield an excellent return in years to come.

Additionally, unlike with single-family homes, market forces typically have less of an effect on the values of multi-unit properties. As a result, these properties have a tendency to sell high, which means that you'll be able to invest now at a relatively low price and sell down the line for much more. Add to this the fact that these homes also serve as a good defense against inflation due to the fact that rents increase with the housing market, and you can end up making a fairly pretty penny with a multi-unit.

Once you're set on a property, you can even move in yourself and rent the remaining units. Living this way comes with some potential responsibilities, but living inside the purchased multi-unit home also means that you'll be there to ensure maintenance is performed, spearhead renovations, and address your tenants so that you can know that they are being well-treated and accommodated properly.

Finally, most rental home expenses are actually tax-deductible; you'll be able to write off property taxes, maintenance costs, and the price of any upgrades that you perform on the property. Finding a good property can take some time, so let us at Boston City Properties help you find the property of your dreams. Contact us today.

Selling a Multi-Family Home

If you're considering selling your multi-unit home, it's important to be prepared for the process. Selling a property of this type just isn't quite the same as selling a single-family home, which is why it's a good idea to engage a real estate brokerage like Boston City Properties because a good brokerage that's worth its salt will know exactly which steps you'll need to take to make a sale. In any situation, here are a couple of tips to get you started with the process:

• Market the Property to Local Investors – Real estate investors sometimes own multiple properties in a small area, and this is certainly the case in this area of Massachusetts. If you want to sell fast, find out if there are properties near yours that are owned by a company or an individual and offer to sell your property to them. For them, this is an opportunity to expand their brand and increase their income, and for you, it's a good way to make a quick sale.
• Have the Property Inspected – Sometimes, you don't quite know everything that's going on with a particular property. Fortunately, finding out any issues is an inspector's job, and they can tell you if there are wiring problems, problems with pests that you don't know about, and they can even let you know if there's structural damage.

Hiring one of these professionals can actually save you some cash because they often catch things before they really become problematic, and you can bet that a prospective buyer will want to also have the area inspected as well, which can cause trouble if there are problems with the property that you're not aware of. Contact us at Boston City Properties; we can help you get your property sold fast.

Neighborhoods in the Area

The major neighborhoods in this town are:

• Town Center – in the town center, there is a nice mix of renters and owners, so there are several opportunities for investment. Homes in town have a long history; many of the properties predate the 20th century. Additionally, this is the area of town where you'll find the most seasonal housing.
• Ocean Views – As you might expect, this neighborhood, which is also called Pigeon Cove, is known for its beautiful oceanic vistas. This area is primarily owner-occupied, but with a tendency for many properties to have over four bedrooms, this is a great market to purchase existing property and convert it to multi-unit housing.

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