Buying near new casino

[Sam Hendricksen]

Good morning fellow BPers,

I'm looking at buying my second property, this time a multifamily with my VA loan. Most of the multifamily in my area is in Norfolk and Portsmouth VA.

There’s a new casino opening in portsmouth, Rivers Casino. And im looking at a quadraplex a 5 min drive from the casino. It’s on a quieter street, low income area. I’ve heard that this neighborhood doesn’t really have any problems from a social worker but outside areas aren’t good. 

3/4 units are currently rented at $900 each, renters pay utilities. I’m wondering if the new casino will raise the values in a few years and if a low income but not crime heavy area would be worth it?

https://www.riverscasinoportsm...