Hi BP Community,
I am currently shopping for a multi-fam in NJ ($250K) and wanted to know what are the best towns to house-hack in NJ?
Hello @Michael Peralta !
I'm currently doing the same thing but coming from the DC area. I'm currently looking in Middlesex County near Rutgers. My research up to this point says live near a train station for NYC communters and live near New Brunswick for the student rental pool. Watch out for fload zones too. I'm using @Marsha Gordon as a real estate agent that is helping me look. I imagine if you are looking closer to the city this info might not be helpful but if so, I hope it helps. Good luck and happy hunting!
@Michael Peralta welcome to BP! For $250k you're going to have a hard time finding anything other than a very beat up 2 fam. There's plenty of MF housing stock in southern Bergen county (Garfield, Wallington, East Rutherford, Lyndhurst, North Arlington, Kearny), Essex (Newark, Harrison, East Orange, Bloomfield), Passaic (Clifton, Passaic, Patterson), Hudson (Harrison, Union City, parts of JC) and Union (Elizabeth).
Out of the ones I listed, Newark, East Orange, Passaic, Harrison and Patterson are probably your best bets for finding properties under $250k. Good luck with your hunt!
Here is a search on RedFin that has your criteria:
Michael, there are plenty of homes in NJ that fit your criteria and budget. It's a matter of narrowing them down to a specific area you would like to live in!
@Joshua Hilliard Any luck finding a multi in New Brunswick?
@Michael Peralta - If you have the ability to work from home or be flexible in your location across New Jersey, South Jersey has many locations where you can house hack with your budget. Glassboro, Westville, Pennsauken, Woodbury, and Gloucester City all have many MFHs under 250k that aren't in a super rough condition.
@Michael Peralta I am currently house hacking in Union county. Closing on new house hack in Essex County over the next few weeks. I stay close to public transportation which tends to increase rents. Is $250k what you are pre approved for?