Walpole Multi-Family Homes

Walpole, which is a town in Norfolk County that was named after the first Prime Minister of Great Britain, is a great area to call home for someone who enjoys living in the suburbs of Boston. The town is only about 27 miles from Boston, which means that it is about a 32-minute commute to and from the city each day. Of course, that is not accounting for traffic, but that should not add too much time to the commute. In addition, for residents who prefer public transportation, there is a commuter rail that runs on the Franklin line, which provides service to South Station in Boston.

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Purchasing a Multi-Family Home

In this town, the median price for a multi-unit home is about $495,000. This is about the $275 a square foot, which is only slightly more than the price for the same type of home in the Boston Metro area. With that being said, there are quite a few options that can be considered for individuals looking for a home with multiple units.

• Townhouses – These are units that are built side-by-side in a community. These units are connected because they share a wall with their neighbor, but each unit does have individual entrances for the residents.
• Duplexes – This is a housing option that is based on the design of a two-story home where each floor is designed as an individual unit. There are also larger triplexes and quadplexes that have more floors for tenants to reside in. One of the biggest benefits of this type of home is that the owner can reside in one of the units and maintain the property with ease.
• Condominiums and Apartments – These are typically two-, three-, or four-bedroom units that are positioned inside of a building. These are a great investment opportunity because there are typically several units per floor that can be rented to tenants. Since there are more units with these property types, it is common for an owner to hire a management company to help maintain the property.

Since this is an area that is in demand, it may be difficult to find the property that you want to purchase. If this sound like you, contact Boston City Properties today so that they can offer representation and help you find property in the area that you'd like to invest in.

Selling a Multi-Family Home

Before a home with multiple units can be sold, it is important that all of the tenants that reside in the building are informed of the owners' intent. This gives them the opportunity to move if they want, but it also allows the tenants to keep their units clean and free of clutter when potential buyers come around to look at the property. Residents living in the building will not have to move until their lease is up, and even then the buyer may allow them to extend the lease. Having tenants in the home actually increases the value of the building because their rent will provide the new owner with a source of income that can help cover the price of the mortgage.

Also, before listing the property, make sure to compare it to other homes that are for sale in the community. Typically, the price of the property should be similar, but there are ways to increase the value of the property. This can be done by updating appliance, remodeling spaces like the kitchen and bathroom, or putting down new flooring. Need help selling a home that is designed for multiple families? Contact Boston City Properties today for representation throughout the process.

Neighborhoods in the Area

There are four unique neighborhoods in this town, each of which are great places to live. The crime is low in these communities, and the schools are highly ranked, which makes it an ideal place to raise a family as well. The four neighborhoods are:

• Main Street / Fisher Street – This area is in high demand, so finding an investment in this neighborhood could be rough. Though, there are quite a few high-rises and the apartment complexes in the area.
• Plimptonville – Also known as East Walpole, this area of town has a lot of single-family homes and small apartments that were built between 1940 and 1969.
• Town Center – This is the southern portion of town. There are a lot of high-rises in this neighborhood.
• Cedar Hill – Also known as Campbells Station, this section of the town is comprised of townhouses and single-family homes, most of which were built after 1970.

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