What’s everyone’s thoughts on Attleboro for multi family investing?

Question

Got a couple opportunities in Attleboro and curious what’s everyone’s thoughts on the area. The value and cash flow is legit but im not familiar with long term growth patterns of the area. Any knowledge would be great. Thanks

Kyle Spearin · Answer

@Ramin M.it's on the commuter rail, a suburb of Providence, and has a hospital close by. In my opinion, it's more of a cash flow play than a growth play. The prices are still pretty low there because (my guess is) the demand to live there isn't as high as a place like Quincy. If you decide to go this route, I'm happy to connect you with a friend investing in the area.

Luan Oliveira · Answer

I'd argue anything in the greater providence area is primed for growth. As the greater Boston area gets more expensive, more and more people are expanding outward. Look at how prices have changed in the last 5-6 years. in 2018 you could purchase a good 3-family in PVD for less than $300K. I recall seeing new build 2 families going for $340K. Today, a decent 3 family is no less than $500K. Those same new 2 family builds are going for $580K. Percentagewise, I'd argue the appreciation has been greater than Boston. When prices are already at $1MM plus, how much more can they go up each year?

There also seems to be a lot of businesses in the area. Most of the major chains are there, so that should tell you something. Just be ready to deal with a more blue collar working class. If you're seeing cashflow, I'd jump on it. Appreciation will just be the icing on the cake!

Lien Vuong · Answer

Cash flow market with working class tenants. I think its a solid option to start your investing journey as long as the math works for you. I have clients who invest down there and are overall happy with their experience.

What’s everyone’s thoughts on Attleboro for multi family investing?

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