14225 Buffalo/Cheektowaga Area
Hey ladies and gents,
I would like to know if anyone is familiar with the subject area and how is renting/living situation?
Is it an improving neighborhood or is it going downhill fast?
Are there any cons to buying rentals here?
Most Popular Reply
Rich,
It's a B - C type area. I'd spend more time investigating properties in the West side, North Buffalo area, and parts of the Amherst area.
The housing market is on fire right now, so the area's I've mentioned will come with a premium, however the ROI in these area's are much more attractive. The revitalization that is going on downtown and in the surrounding areas are driving the investor and renter interest in these area's.
Cheektowaga is a stable area with many single family homes, some multifamily. I personally wouldn't invest in this area but don't let a strangers opinion deter you. The higher property taxes will eat into your returns, and with mostly single family homes, I do not see what will be driving renters to these area's. I would think your vacancy rates would be higher.
I invest in the North Buffalo Area. A large mix of multi and single family homes with a decent range of property values. Vacancy rates are virtually nill, due to the high demand. Taxes are very low. I believe that the mass development going on downtown and in the surrounding area will drive renters outward to the area's like North Buffalo and the West side. You can already begin to see the massive increases in rent rolls downtown, Development tends to expand from the epicenter, that is why I am so high on these area's.