Rental Property Investor · Brooklyn, NY · Member since 2016 · 71 posts · 35 votes
Hello BP,
Id its not too much of a bother, I have a few questions for the investors and landlords in the Chestnut Hill neighborhood of Trenton, New Jersey.
Im thinking about investing in the area. Could you give me your opinion on:
1. The area as far as grade type ( B, C, D) .
2. The cap rate ( especially interested in knowing what kind of cap rate investors are getting in this area).
3. Your view on prospect for improvement ( up and coming area or going downhill area).
4. Also, in this area what is the typical per door rate ( I like to have at least $150 per door or more).
Since I'm primarily located in Brooklyn, NY this would be a out of town investment ( plan to have property management in place).
Thank you for your assistance.
I have multiply properties over there. There are a few blocks to watch out for but it is not too bad. I would not limit yourself to chestnut park. Franklin Park, Villa Park, Chambersburg and South Trenton should be part of your search. Buy a nice house. Get good Tenants, and your experience will be much better. The Area is C mostly. The cap Rate depends on your purchase and rehab cost and the taxes on the house you buy. But a 2 Bed Will rent for 900-1000, 3 bed -> 1000-1150, 4 bed -> 1100-1250. I would say the area is flat. The tenants I speak to say the like the school in that section. I am not sure what you mean by "per door rate".
Id its not too much of a bother, I have a few questions for the investors and landlords in the Chestnut Hill neighborhood of Trenton, New Jersey.
Im thinking about investing in the area. Could you give me your opinion on:
1. The area as far as grade type ( B, C, D) .
2. The cap rate ( especially interested in knowing what kind of cap rate investors are getting in this area).
3. Your view on prospect for improvement ( up and coming area or going downhill area).
4. Also, in this area what is the typical per door rate ( I like to have at least $150 per door or more).
Since I'm primarily located in Brooklyn, NY this would be a out of town investment ( plan to have property management in place).
Thank you so much. I have been looking around Chambersburg, Villa Park, Mill Hill. The house I have my eye on is a 3 family 1/2/1 configuration. It needs value add cosmetic updating (about $15k) to bring rents up. If I can get it for the right price its worth pursuing.
My concern was I read there was gang activity in that area in recent years.