Real Estate Market / Neighborhood Analysis

4 Replies

Hello Everyone,

I am a new real estate investor located in NYC who is interested in  purchasing residential multi-family and commercial with 5-6 units. My target area is the NYC/NJ Metro Area, but I am having a tough time figuring out what neighborhoods to focus my attention on. Does anyone have any suggestion on where I would be able to find market data such as vacancy rates, price appreciation, rental rates, etc.?

Thanks,

Andrew A.

@Brian Gibbons   got me connected to Neighborhoodscouts a while back...

I would say this...don't over think the neighborhood/area unless  you are buying to rent/hold. 

Having said that, I am reading in your post that you want multi but need info...

Multi is different than SFH....it sounds like you are starting out but want to go straight to the kill on multi..the numbers are different. NOI/cap rate etc.

Im not a multi expert as I would refer to my gurus in the field for multi. 

zilpy.com/us/new_york_metro for rental trends.

if you have specific addresses or cross-streets in a zipcode in mind you can run local reports that tell you vacancy rates, renter density, crime, household income also 1-5 bdr rent trends for past 12 months.

Thank you for getting back to me. I checked out the sites last night and they seem to have much of what I am looking for. I appreciate the help!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you