Any investors have experience investing in Port Jervis, NY? Prices are reasonable for multi-family homes, vacancy rate of 17% and close to a commuter rail.
@Barry Cooper though I do not have specifics for the Port Market I have driven through it on numerous occasions. Parts of it can be rough, though nothing you haven't dealt with in Bed-Sty. It's an area that is block by block. There are some very nice homes there but they seem to be all large single family (large enough that they might be able to be converted to duplexes) on the outskirts of town. The commuter rail is convenient and takes you into the Secaucus Junction station in Jersey then you cross the river to the trade center. If you need anything else please don't hesitate to reach out. If I can save you an hour in the car it would be my pleasure.
Thanks so much for he offer, I've taken a few more rides and see way to many for rent signs for my comfort. Out of curiosity where do you primarily invest?
@Barry Cooper right now I am staying very local that keeps knowing the market fairly simple. I didn't know Port had a 17% vacancy. That's pretty high for me. There's not much good employment in Port. Most commute down to the city or into Jersey.
How did you find out about the vacancy rate? I've been looking for that kind of number for many other areas but have no idea where to get it from. Thank you in advance.
An owner of a multi-family property in Port Jervis contacted me today looking to get rid of his property, as he wants to retire and leave the area. It's well maintained, fully occupied with long term tenants and throws off a surprisingly large amount of money, which is great. However, I know nothing about Port Jervis much less this specific block, and have no idea what to offer him, as his property is very difficult to comp. out. I'd be looking to resell it, but can't assume it's worth what rents are going for in a more mainstream area. It's located on the SE side of town, near the hospital, and see online that there are plenty of smaller multi-family properties listed for a fraction of this one. Can anyone tell me if that general area holds normal values?
Hi @Shane Ronay ,
I don't know much about the area but I do purchase value add multi families. Please PM me and we can chat.
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