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Shirley Investment Properties

With a housing market that's expected to grow almost nine percent in the next year, the town of Shirley, which is located in Middlesex County, Massachusetts, is an excellent place for an investor to consider. While it is about 50 miles away from Boston, it's still well within commuting distance for many professionals, and a home in the area can be fairly inexpensive. In fact, at the median level, a home in the area goes for around $317,000. Not only is the residential investment market consistently growing, but commercial investment real estate is also showing signs of growth.

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Residential and Commercial Investment Properties

As a town that's on the smaller side of the spectrum, there is a surprising amount of potential in town for investors. The town has more than 7,000 people, so investors looking for residential opportunities should have no issue. In addition to this, commercial opportunities are also fairly common; the town has both office parks and retail properties that are available for investment.

That being said, which type of property you select for investment is going to greatly depend on your needs and preferences, but in most situations, for a sturdy portfolio, it's a good idea to diversify somewhat. Here's a listing of the types of real estate you can find in town for investment:

If you resell, you'll most likely be forcing the appreciation of the property by renovating it. If this is the case, you may even dwell on-premise during this part of the process. If you opt to rent, there is a lot of potential profitability in renting out this type of real estate, especially for those tenants that don't want to pay down a restricting mortgage.

Like single-family properties, you can pursuit standard mortgage financing, but for those that want a lower down payment, owner-occupied financing is also an option; you'll just need a property with four or more rental units. With this type of financing, you'll also be living on the property.

Like other types of property, you can opt to pursue a standard mortgage agreement with a financial institution, but in addition to these options, you can also pursue financing that's designed specifically for commercial property investors. These can include SBA 7(a) or CDC/DBA 504 loans; both of which provide sizeable amounts of money for this type of property.

Real Estate Market Overview and Neighborhoods

If you're wondering which neighborhoods in Shirley can work best for your property investment, it's important that you understand that Shirley only is about 15.9 square miles in size, and as a result, there aren't constituent neighborhoods.

With that said, you should still execute some due diligence so that you select the best locations and the best conditions for your property investment. If you're looking for an easy-to-access area, the north side of town has access to Routes 225 and 2A, which can provide easy connections to a wide variety of areas in the state and beyond.

Choosing the Right Investment Property

It's important to make the right decision when investing in property, and at Boston City Properties, we have years of experience in towns just like this. Allow us to help you with your next investment. Call us today at 617-247-1933.

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