Wakefield Investment Properties

Are you looking for a town to invest in that is close enough to Boston to make a daily commute to the property? Wakefield is only about 14 miles from downtown Boston by car, and highways like I-95, I-93, and Route 1 are all easy to reach from the community. In fact, there is even public transportation available in the town, which means you can get to the property that you invest in quickly if you need. With comparable real estate prices in the area to Boston, investors tend to flock to this area because of the five percent increase in the value of property during the past year. This year, the value is expected to increase even more, so this is a town to consider for investment opportunities.

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Residential and Commercial Investment Properties

Investing has its options, but if you have never dealt with real estate before, you may be confused about which option is going to be best for your portfolio. You will have two options, which are residential property and commercial property. Let's take a look at a breakdown of each.

• Residential – When you invest in residential property, you are typically going to consider rental property for the investment. However, you can also choose to purchase a single-family home and flip it so that it appreciates, which means that you will be able to sell it for a profit. You can also decide to rent out a single-family home. This provides you with a good amount of rental income to cover the cost of the mortgage, the maintenance, and taxes on the property.

Multi-family homes can also be considered residential investments. These properties include spaces like apartments, condos, townhouses, duplexes, and more. The advantage to this type of investment is that you will have multiple units bringing in rental income, so if you want, you can even choose to reside in one of the units and still make a considerable profit.

• Commercial – This is an option that you can choose to invest that will be beneficial in a densely populated area of the state. This can include office space, retail space, and storage space, all of which are investment options that you would rent out to entrepreneurs and startup companies who need commercial space for their business.

Real Estate Market Overview and Neighborhoods

Before you settle on an investment in this area of Massachusetts, you will want to take a look at some of the neighborhoods in the area to see which options will be the best for your portfolio. This area is divided into five unique neighborhoods, which are:

• Montrose – This area is a residential one that has plenty of single-family homes and apartment building to invest in. There is a low vacancy rate in this neighborhood, and rent tends to cost about $2,000 a month, so multi-unit homes may be worth considering here.
• Town Center – This is an area with a lot of single-family homes that have been converted to apartments, but since this area is a bit denser than the rest of the town, it is also a great place for a commercial investment.
• Gazebo Circle – This residential area of town has a lot of single-family homes that have a median real estate value of about $521,000.
• Main Street – This is the older part of town, so many of the residential options that you will have to choose from were built before the year 1939.
• Greenwood – If you are interested in investing in high rise apartments or commercial property in an area with a lot of residents, then Greenwood may be a great location for you to consider real estate opportunities. However, the demand for property in this area is a bit competitive, which means that you may need to wait to find what you are looking for in this neighborhood.

Choosing the Right Investment Property

Looking for an investment opportunity in this area of Massachusetts? Contact Boston City Properties today at 617-247-1933 so that we can help you find a profitable investment for you to add to your portfolio. We know the area well, so we will be able to represent you and your needs while quickly finding your ideal investment opportunity.

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