Where to find data on a neighborhood?

3 Replies

I hope to be purchasing a small (3-unit) multifamily in Brooklyn this spring hear a lot about researching an area before a purchase, but I'm unsure where to find the information I need - and how to be sure it's accurate and complete when I find it. Places like Zillow and Redfin seems to often have contradictory info for sales, foreclosures, average rents, and charts of real estate values over the years.

My buyer's broker has given me some stuff - mostly recent sales and current inventory - but this doesn't go deep enough for me. For example, is there a way to find out (roughly) how many units are for rent in a neighborhood, so I can see how saturated the market is? And how important is that, when I only need to rent out two units? I feel like it isn't - but this is my first time, so I don't know what I don't know - and that always terrifies me.

Originally posted by @Patrice Penda :

Hey @Bill Brownville

Check out trulia.com 

It provides very good data on the neighborhood.

 Thanks!

When searching for Rentals I like to use Rentometer.com.  I get a good sense of what the market is with that tool.

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

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.