Whitman Multi-Family Homes
As part of the Boston Metro Area, the town of Whitman, which is located in Plymouth, is a great option for people looking for a place to live and for people looking to invest in home properties. This area is a small town of only 15,000 people, and the homes are known for being comfortable, and there are even some properties in the area from the 19th century. The town has its share of single-family homes, but from an investment point of view, homes that house multiple families can be much more stable, and this town also has its share of apartments, condos, and duplexes.
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Purchasing a Multi-Family Home
In this town, especially in neighborhoods like Rye Hill and School Street, property values are particularly inexpensive. Units like duplexes, condos, and apartments all can be purchased fairly inexpensively because the town has a median property value that's lower than many of the properties values in the Boston Metro Area. In fact, on a square foot basis, the town has a price per square foot of $226, which is more than $40 less than the average in the surrounding Boston suburbs.
With this in mind, there's a fairly stable buyers' market in town that can be taken advantage of. It's important to remember that Boston is experiencing major growth in areas like tech and retail, so in the coming years, the suburbs surrounding the city will experience booms when it comes to real estate. The town is less than 30 miles away, which means it's in a prime position for professionals to commute to and from the city, which means that homes will be needed that can accommodate those professionals as well as their families.
Homes of this type also can include a wide array of configurations, and each of these properties can also house the investor as well. When this is the case, the property owner can hire a management company or manage the maintenance and tenant needs on the property themselves. Just about any of these property types provide month-to-month income for the owner, and owning one of these can be a major portfolio builder for an investor. Let us help you build your portfolio; contact us at Boston City Properties, and we'll help you find your property.
Selling a Multi-Family Home
Selling property doesn't have to be a hassle, and over time, an owner can add a lot of value to the property experience. If the intent is to eventually sell the property, an owner can execute several best practices to ensure that the sale is at a significant profit.
First, it's important for an owner to consistently upgrade the property. These types of units have a tendency to provide amenities and features that make the living situation attractive to renters, and keeping this experience consistent is also important for the eventual sale of the property. With this in mind, renovations and upgrades to the existing property can be very helpful; keep the included appliances up-to-date, install features like granite countertops, and replace cabinetry from time to time inside the units.
When it comes time to sell the property, these feature will add to the attractiveness of the listing, and since the tenants will also be content, buyers will find the property nearly irresistible. At Boston City Properties, we understand the local market in town, so contact us and we can help you get your property ready for the listing process.
Neighborhoods in the Area
Whitman has four popular neighborhoods that also have some great real estate options:
- Town Center – Property values in this part of town are very reasonable, and monthly rent around the town center tends to be in the $1,700-range. This area has plenty of shops and town features for residents to use.
- Rye Hill – Rye Hill is one of the more expensive parts of town with a real estate price that's 43 percent higher than the state norm. That being said, it's a very suburban area of the town and has a relatively low average rent in the upper 1300s.
- School Street – Properties in this section of the town are relatively inexpensive compared to the state average. Also, rents in the area are almost $1,799 per month.
- Auburnville – For investors considering Auburnville, it's important to understand that the rental prices in this neighborhood are very low. Currently, monthly rent falls on average below $500 per month.
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