Anyone have experience in New Castle Pa...

2 Replies

I have generally not had issues finding inventory in the other surrounding counties of Pittsburgh (i.e. mostly Westmoreland, Indiana) that being said Inventory has been somewhat limited recently in those areas. 

I have been watching the mass influx of New Castle properties hit the market in recent years and have been timid at what is driving this. I have lived in this area my entire life so I am very familiar with New Castle and the associated demographics as well that within New Castle where the good and bad areas are.

More recently I have noted that a lot of the inventory is moving quicker but still plenty of good deals to be had. Not sure if there are out of state investors that have been keyed onto this area but the last year there certainly has been an uptick in sales.

Now to my question. At the moment this seems to be the best area for quality/price. You can actually buy some really nice houses for sub-$50k and the market rent I would say is comparable to most of the small rural towns outside of Pittsburgh. I am looking for someone who actually has properties in New Castle to hopefully just shed some light on me to their experience since they have been there.


Jared

@Jared McCullough

Hi Jared, I was born and raised in New Castle, moved away for 5 years, came back and now live in Ellwood City and most of the business I do now is here.

I’m with you I’m not knowing what’s causing the inventory unless it’s just people getting out of the game locally because population has been declining for decades. There hasn’t been any major businesses flocking to the city and that casino keeps falling through. It’s a shame because New Castle has a lot of potential.

Do you invest locally yourself or just starting out? I’m a realtor and investor myself so feel free to PM if you want to talk shop and the area.

Originally posted by @Ryan Alexander :

@Jared McCullough

Hi Jared, I was born and raised in New Castle, moved away for 5 years, came back and now live in Ellwood City and most of the business I do now is here.

I’m with you I’m not knowing what’s causing the inventory unless it’s just people getting out of the game locally because population has been declining for decades. There hasn’t been any major businesses flocking to the city and that casino keeps falling through. It’s a shame because New Castle has a lot of potential.

Do you invest locally yourself or just starting out? I’m a realtor and investor myself so feel free to PM if you want to talk shop and the area.

Ryan,

Thanks for the reply. I have 11 properties between Indiana and Westmoreland county. Not sure I would consider that local as I am out in Chippewa (i.e. Beaver Falls) area. My partner lives near Indiana Pa so we are kind of looking on the 422 corridor for properties at the moment since inventory in our area is low. 


Last summer I was finding some killer deals on houses in New Castle but was really timid to even consider as the MLS had pages upon pages of them which really concerned me regarding potential to rent after purchase. I don't want to buy a decent place just to have it sit.


I have looked in the last month or so and seems as though now decent deals have been flying off the market failry quick. Not sure if these are out of town investors or if things are starting to pick up. I was more just looking for someone who actually has some properties in New Castle to give advice on how easy it is to rent a property there.