How's the current Union City, NJ Area market?
Hello everyone!
I'm looking at properties in the Union City area, including Jersey City Heights, West New York, and North Bergen, but focused on Union City mainly for the short commute to the city. I live in NYC and grew up in North Bergen so I'm familiar with the area but not necessarily the real estate market. I'm currently looking at multi-families (likely to house hack) but most modest duplexes are going for 499k+, which is right at the budget I set for myself. I'd go slightly higher for triplexes and whatnot, but those seem rare.
Do any experts from the area have some advice on how the market is doing? Is it still worth it or should I look elsewhere? I'm going for rental income rather than appreciation. Should I also start looking at "as-is" homes? My dad's also been in construction for 30+ years and can easily work on fixer-uppers, but I'm generally risk-averse (and it's my first property) and don't want to encounter a host of unforeseen issues. But I do want to leverage his expertise.
Any and all advice is appreciated!
Thanks,
Seb