Local Market Deep Dive: Mattapan, Boston
Mattapan is a haven for diversity and community, both culturally and commercially. Buyers and sellers love Mattapan not only for its desirable location and convenience, but also for the expanding market. For buyers, especially, this expanding market has not yet usurped the fact that it is one of the last remaining affordable markets in Boston.
The current development found throughout Mattapan has allowed for more opportunities for buyers, both residential and commercial, from the condo-developments in the highly desirable Lower Mills area to the overhaul and boom of commercial development in Mattapan Square. While Mattapan remains predominantly a single-family home area, the market is strong for multi-family investors. Bordering on Roslindale, Jamaica Plain, and Milton (a multi-year winner of the “Best Town in America” award), Mattapan is a no-brainer for those looking for a deal in the Boston area and those looking to sell. Prices are extremely affordable by Boston’s standards and, for sellers, the properties are not lasting long on the market as buyers are becoming strongly aware of the draw to ownership in Mattapan. Investors and individual savvy buyers are aware that the multi-family market is hot, with the affordable prices and the large rental population, making the opportunity to collect extra rent a huge draw and a smart move.
One final, important note: Mattapan is no different than the rest of the Boston area. Single-family and multi-family properties commonly date back to the early 1900s, so making sure to utilize the contingency section of the offer is crucial, particularly when it comes to the home inspection.