Winchester Investment Properties

When you're investing in an area, it's always a good idea to keep an eye on how much the market has grown historically so that you can make a profit. Winchester, Massachusetts, which is located in Middlesex County, is a town that has experienced a 5.8 percent home value increase in the last year, which means that properties are appreciating at a fairly steady rate.

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The town is also a good choice to invest in due to its tendency to be a suburban haven for Boston professionals; the town is only 18 minutes from Boston, and there are numerous ways to commute in and out of the city.

Residential and Commercial Investment Properties

Wondering which types of properties you can invest in? Fortunately, in this town, you can find just about every stripe of property to invest in. Here's a breakdown of each of the types that you can consider:

Standard Single-Family

• Sales – With property values that go well into the 1.5 million dollar range, it can be very profitable to sell single-family units here. Most properties in the area have large lawns and are fairly removed from their nearest neighbor. If you're going to be investing in a property of this type, you can opt to upgrade it so that the sale price is increased via forced appreciation.
• Rental – When you're investing, cash flow is very crucial. Considering that rentals in this area can easily scale into the $3,000-plus range, there's definitely a lot of potential for renting single-family residences. It's just important to be aware that properties of this type will need luxury amenities.

Multi-Unit Properties

• Duplexes – With a large selection of four- and five-bedroom homes in town, an investor can purchase a single-family unit and convert it into a duplex. A duplex, triplex, or quadplex has multiple levels. Each tenant lives on a single level of the home.
• Apartments – Luxury is important in a town like this one, and apartment living provides community features and well-equipped homes that are fairly glamorous. Typically, tenants here will pay into a lease for a high-rise or standard apartment complex.
• Condos and Townhomes – These have units that are owned by the tenants. Townhomes can be converted into duplexes, and condos have a similar configuration to apartments.

Commercial Real Estate

Commercial real estate can include both office space and retail space rentals. Both of these usually incorporate triple-net lease structures, which means that in addition to the monthly rent, tenants will also pay the taxes, insurance, and maintenance costs of the property.

Real Estate Market Overview and Neighborhoods

When you're investing in any neighborhood, it's crucial to really understand its makeup. Currently, the majority of residences in this town are owner-occupied. In fact, almost 85 percent of the residents in town own homes. Having said that, the fact that 15 percent of the town residents rent means that there is definitely a market for rental properties as well.

As one of the more affluent towns in the Boston Metro area, Winchester also has a higher amount of historical buildings than many other towns in the state. In fact, properties that have been built before 1939 account for more than 38 percent of the available properties in town. This means that you'll be able to find colonial-era homes throughout town that have amenities that aren't easy to find in newer homes.

Also, larger homes are popular here; four-bedroom homes account for 28 percent of the market, and these types of properties can be excellent money earners through both multi-unit conversion and forced appreciation upgrades.

When it comes to neighborhoods, the town has five distinct areas:

• Church St / Fletcher St – This part of town is known for its apartment complexes and high-rise apartments. Many of these have luxury amenities that can generate monthly rents that are over $2300 per month on average.
• Cambridge St / High St – This is an area that has several townhomes for sale, which presents opportunities for investors that tend to work with multi-family units. The vacancy rate in this area is only 4.5 percent.
• Town Center – Not only does this area grant access to easy commuting options, but it also is where you'll find the highest population density. Rents here are around $1,907 on average, which places them fairly low compared to other town neighborhoods.
• Washington St / Cross St – At the median level, Cross Street has some of the cheapest real estate prices in town. In this neighborhood, it's possible to find homes that are well under a million dollars. This is also the most historic part of town.
• Winchester Highlands – With real estate prices dipping down to $557,000 at the median level, the Highlands are definitely the cheapest area in town to purchase property. This area is also the most mixed when it comes to renters and property owners.

Choosing the Right Investment Property

As one of the towns in the Boston Metro area with the most expensive home values, it's imperative that you find a property that matches your investment needs. With profitability and return on investment in mind, trust Boston City Properties to help you find the property that best fits your investment strategy. We are a brokerage that has years of experience and thousands of satisfied clients, so give us a call at 617-247-1933.

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