Topsfield Investment Properties

A small town that can be found in Essex County, Massachusetts like Topsfield can be great for an investor to consider, especially since it is only located about 22 miles from downtown Boston. This close proximity to the growing city makes this town well worth considering, especially since I-95 cuts right down the western side of this town, making access to the area very easy for commuters and investors alike.

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Residential and Commercial Investment Properties

Both residential and commercial property are great options when you are looking for a profitable investment, but obviously, you are going to have to choose the option that fits your investment needs right now. Let's take a deeper look into both options.

Residential

• Single-Family Homes – This is typically the easiest option to invest in, especially if you are new to the real estate market. You will only be responsible for one unit, which provides you with rental income that can pay for the mortgage, repairs, and upgrading the home.
• Apartments – This is a building that typically has more two or more units per floor that you can rent out. You will be able to get quite a bit of rental income from this option, but you will also be responsible for maintaining public areas like the hallways and the lobby. If you are interested in profiting with rental income alone, this is a great option to consider for your investment.
• Condos and Townhouses – With this option, you own the building, but the tenants who live in the units own the units, so you will only need to take care of the common spaces and things like snow removal in the winter.
• Duplexes, Triplexes, Quadplexes – This is a shared space where each unit is a floor in the building. A duplex has two floors or units, while a triplex and a quadplex have three and four units respectively.

Commercial

• Retail Space – This can be a single storefront or a building that has space for multiple businesses to rent out and use to sell their products. Malls, both indoor and strip malls, tend to be great investment options because they offer more rental opportunities for a longer period of time, but they can be difficult to manage if you are new to real estate.
• Office Space – If you are investing in an area of the town that has a lot of professionals who own startups, then this is a great option to consider because they are likely going to need the space for quite some time. In fact, many leases for office spaces are five to 10 years.
• Warehouses – If you are looking to invest in something that does not require a lot of maintenance, there are most likely going to be companies in the area that need to expand their warehouse space.
• Storage Space – Storage is another necessity in most communities, so if you prefer a low maintenance opportunity, consider self storage as an option.

Real Estate Market Overview and Neighborhoods

The real estate market in this area is doing quite well. The median price for a home in the area is about $593,000, and it has been growing about five percent per year. It is predicted that this year, that rate will increase to a little over seven percent, which means that this is the ideal time to invest in the area. This area of Massachusetts has a very low crime rate, which makes it a great place to live, but an even better place to invest because you know that your investment is going to be safe in the community.

Choosing the Right Investment Property

When you are considering investing in a small town, it can be difficult to know which investments are going to be profitable, especially if you are not familiar with the area. Topsfield has some great commercial and residential opportunities, but the best way to locate them is by contacting a professional at Boston City Properties who knows the area. Call us today at 617-247-1933 so that we can provide you with a list of what is available in the area and help you find property worth investing in quickly.

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