Weymouth Investment Properties
Despite still being considered a city, Weymouth, Massachusetts, maintains its suburban town atmosphere, which is part of the charm of this city of 55,972 residents. The town itself spans 10 distinct neighborhoods that vary from very urban to distinctly suburban. With a strong municipal structure, the city is also a great town for professionals, and for those that crave an even more urban work environment, Boston is situated only about 17 miles away.
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As a result, there is a high demand for real estate in this area. In fact, in the past year, property values have increased by 6.1 percent. As a result of this, this town is considered to be in a "hot" sellers' market.
Residential and Commercial Investment Properties
In a city like this one, you just about have your pick of the litter when it comes to properties that are ripe for investment. If you're new to this type of investment, you'll have to select between either residential or commercial investments. Let's take a look at what you can expect on the market here:
Residential
- Single-Family – if you're looking for a property that's going to appreciate over time, you can rent out a single-family home or reside there yourself. Additionally, you can purchase property in the area and upgrade it; this has a tendency to force appreciation, and it is a great way to make money in the short term.
- Multi-Family – If you want to make great cash flow, you'll love multi-unit properties. You can even finance these easier because banks tend to give out more loans for this type of property due to the lower vacancy and foreclosure rates. Like how you can reside in a single-family home, you can stay in a unit in your multi-family property and rent the rest. This will make you eligible for special financing options that can really help shoulder the burden of a multi-family unit.
Commercial
- Office Space – Office space is one of the types of real estate investment that has the highest rate of market-based appreciation. Rents go up, and with this type of rental, you can have an excellent capitalization rate that will quickly pay off the cost of a property. This type of commercial investment is perfect for small businesses and startups, and typically the lease terms even can account for insurance and real estate taxes as well.
- Retail Space – Investing in retail space is excellent for cash flow. In many cases, renters will pay into multi-year leases because keeping a stable location ensures loyal clientele. Like retail space, triple net leases are common in this type of property investment, which means that tenants will also pay into some of the expenses of the property.
Real Estate Market Overview and Neighborhoods
As one of Massachusetts' major cities, this particular town has about 10 distinct neighborhoods. Here is a listing of the areas that you can invest in:
- Main St / Columbian St
- Main St / West St
- Weymouth Landing
- North Section
- Old Spain
- Idlewell
- Pine Grove
- Lovell Corners
- Washington St / Pleasant St
- City Center
As a city that has both urban and suburban neighborhoods, it's very important to have an understanding of the overall landscape of the town. One of the first things that an investor might notice is that there is a mix of both single-family and multi-family homes in the area. While about 55.5 percent of the properties are single family, more than 39 percent of the properties are apartments. Add to this the fact that townhomes and condos make up for another five percent, and it becomes clear that the town definitely has a little something for every type of investor.
When it comes to the available properties, the town has a market with the majority of homes having been constructed in the years between 1940 and 1969. That being said, a full 23 percent of the properties here even predate this era, which means that the city has a lot of historic buildings to consider.
Choosing the Right Investment Property
Not quite sure where to start? Even though there is a wide variety of properties to select, it can definitely be a bit daunting, and matching up with the right property type is crucial to your success and your satisfaction as well. At Boston City Properties, we always try to match the right property investments with the right clients; this way, we have a much higher satisfaction rate than many of the other real estate brokerages in the area. Give us a call at 617-247-1933, and we can help you find the investment that works best for your needs.
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