Stoughton Multi-Family Homes

Being at a mid-point between Boston and Providence, Stoughton, MA, is a sizeable suburb that has a large population of 28,431 people. The town is fairly large – it has seven distinct neighborhoods and has 16 square miles of land. As a result, the town has a wide array of real estate options that are optimal for both buyers and renters. While the majority of the town is very suburban, there are several urban-style areas throughout.

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Purchasing a Multi-Family Home

With such a close proximity to two major cities, this town has a fairly strong market for multi-unit properties. There are multiple advantages to investing in a property of this type, so let's take a look at a few:

• They Can Serve as a Primary Residence – If you're handy and looking for a place to live, then purchasing a multi-unit property can both provide you with a home and with units to rent out. Being handy will allow you to repair issues with the property, which can save you money on maintenance staff.
• There are Multiple Finance Options – Banks prefer to finance multi-unit properties over single-family homes because there is a lower vacancy rate with multi-unit properties. Also, you can apply and receive owner-occupied financing that will significantly reduce property down payment.
• They Provide Steady Income – Of course, you will have operating costs, but with a property like this, you'll be receiving steady monthly income in the form of rent payments, which will pay off these costs as well as your mortgage. In most situations, you'll be putting significant amounts of cash into your bank account.
• You Can Hire a Management Company – If you're not the handy type, hiring a management company will provide you with maintenance, tenant assistance, and administration for the day-to-day affairs of the property.

Looking for a multi-unit property purchase? Contact us at Boston City Properties, and we'll help get you started.

Selling a Multi-Family Home

Are you ready to sell? If so, here are a few things to consider. Remember, it's imperative that you check the surrounding area so that you can have a good idea about which of these types of properties are on the market currently. This will help you set an asking price and will tell you which investors that own local property might be interested in yours.

Don't forget that, in order to make a sale, you'll need to make your property as enticing as possible to potential investors. This means that you'll need to elicit repairs on the property, clean it thoroughly, and make it visually attractive so that buyers will be interested. It's also a good idea to leave a single unit vacant but furnished so that a potential buyer can see what the arrangements are for tenants.

Looking to sell? Contact us at Boston City Properties, and we'll help you move your multi-unit property quickly.

Neighborhoods in the Area

The primary seven neighborhoods in town are:

• The North Section – In this neighborhood, the majority of homes are owner-occupied. Many of the homes here were built between 1940 and 1969. Vacancies are also very low here.
• The South Section – This is a fairly affordable neighborhood that has housing for both renters and owners. If you're thinking to purchase a small apartment building, this is a good area.
• Town Center – In addition to the retail and grocery options in this part of town, this part of town has many three- and four-bedroom properties that can be converted into multi-unit properties. Many of these properties were built pre-1940.
• Washington Street – This part of town has the fewest rental properties, but there are still several five or more bedroom options that can be converted. In many cases, properties here were constructed before the turn of the century.
• Pennsylvania Avenue – This neighborhood has some of the most affordable home values in town. At the median, real estate price is around $255,500, which is lower than in most Boston suburbs.
• Stoughton Junction – Nestled right in the middle of town, this neighborhood also has a good mix of owners and renters. This part of town also has its share of historic houses as well.
• Charles Avenue – Not only does Charles Avenue have its share of parks and beautiful vistas, but it also has fairly cheap real estate and a rental rate that's slightly higher than the Massachusetts neighborhood average, which provides extensive opportunities for investors.

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