How do new large apartment buildings affect sfh rents/value?
I have a sfh rental in a neighborhood that is 90% rentals. The area in my opinion looks very promising for upward growth. New Wal-Mart grocery, new strip mallz around the corner, across the street from running track and sports complex. With all these new developments there is also quite a large scale apartment development mid way through completion. To me it seems these new things would flood people to the area and keep renters, but would my sfh rental rate decrease with this unit saturation? I am thinking that giving the opportunity between a apartment (even a new one) or a house with a yard with in a few hundred dollars per month these sfh's may be unaffected? Curious your thoughts.