Southborough Investment Properties
Southborough, which is a town that is located in Worcester County, is a great place to invest. It is only 28 miles from Boston and about 24 miles from Worcester, which means that it is perfectly positioned for residents who need to commute to either city. The Massachusetts Turnpike passes right through town, which makes it easy to reach from basically anywhere in the state. In addition, the value of real estate in the area has increased by nearly nine percent in the past year, making it a great place for an investment opportunity.
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Residential and Commercial Investment Properties
When you are looking to invest, there are quite a few options to consider, which include both residential and commercial investment opportunities. Both of these types of investments can be profitable, but as an investor, it is important to decide which is best for your portfolio. The types of property that you can consider in this area include:
- Single-Family Homes – A single-family home is a great option for anyone looking to invest in a rental property because they tend to have a high appreciation rate, especially if you choose to update the property while you own it to increase the value. If you do not want to rent out the home, a quick flip can often be very profitable as well, especially if you can update and increase the value of the home quickly.
- Multi-Family Homes – Multi-family homes are great for investors to consider because they bring in rental income from more than one unit. This option includes properties like condominiums, townhouses, apartments, and duplexes, so you will have options when you consider an investment of this type. Typically, this type of property is considered by students or professionals who work in the city and prefer a place in the suburbs to come home to.
- Commercial Properties – Commercial opportunities include things like retail space and office space, which will provide you with a monthly income, and the lease is often set for at least five to 10 years so you will have a steady stream of income that you can depend on.
Real Estate Market Overview and Neighborhoods
Right now, the median value for homes in Southborough is about $643,000, and there are no signs of the market dropping anytime soon. In the year 2009, it was number 31 on a list of the top 100 places to live, so if you are looking into investments, this area is well worth considering. When you are looking for a profitable opportunity in the area to invest in, you can consider one of these four neighborhoods:
- Cordaville – This is one of the larger sections of town that has a lot of homes that were built from the early 1940s through the early 1970s. With more than 3,000 individuals calling this area home, you are sure to find both residential and commercial opportunities worth investing in here.
- Town Center – This is a fairly affordable area to purchase property, and the rent in the area is around $1,500 a month, which means that you will get a good bit of rental income, especially when you invest in a multi-family home here.
- Fayville – This is a more suburban area of the town, but it still has a lot of commercial and residential investment options to consider.
- Southville – This is one of the more densely populated parts of town, but that means that multi-unit homes are plentiful here; in fact, you can even invest in luxury apartments that can bring in a monthly rental income of $3,000 or more.
Choosing the Right Investment Property
When you are considering the type of investment that you want to consider, there are quite a few options in his area. If you are a new investor, having a professional on your side can help you make a great investment. Boston City Properties has agents who know the real estate market in the area, so contact us today at 617-247-1933 for representation through the process. We know the area well and what opportunities are available in each neighborhood, so we can quickly find a property worth investing in that will be profitable for your portfolio.
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