Rentability and Location - Newbie Question
I'm a newbie that is just beginning to look at properties to purchase purely for investment purposes, any help and opinions would be much appreciated...
I currently own a SFR in the Hillcrest neighborhood of Little Rock (LR). I have, however, been looking at a property near the SOMA district but probably a bit outside of that particular area. I am in the military and have since moved from Little Rock, but consider myself relatively familiar with the city.
The property link is here:
2221 S Scott St. Little Rock, AR
My questions are:
1) This property neighbors a multi-family property (also for sale) that is 24 Units. How much should I factor this into the value of the property and the ability/challenge of renting it out? Will this significantly affect what I can ask for rent?
2) Is anyone more familiar with this part of town, I know its improving in the historical parts of SOMA, but is this too far out?
3) Any other factors I should take into account that may be easily missed?