New York City, NY · Member since 2014 · 4 posts · 1 vote
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.?
Investor · North Richland Hills, TX · Member since 2011 · 789 posts · 403 votes
11y
@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.
Real Estate Investor · Los Gatos, CA · Member since 2014 · 226 posts · 89 votes
11y
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.