I'm an out-of-state investor considering a rental property in this area, and I'm wondering if any locals in this forum have strong positive or negative opinions on its potential as a farm area. Is it a war zone? Is it an up-and-coming diamond in the rough? I've seen info from NeighborhoodScout suggesting it's a solid C-class neighborhood (a score of 43 is way better than many areas I've seen). I'm cautiously optimistic (especially given the average rent of $1,400 I've seen on Rentometer) but I don't want optimism to lead me into making a bad investment. Should I stay away from this area and focus on other parts of town instead?
Thanks in advance.
@Richie Thomas the zip 60505 is not a war zone. The C grade designation seems to be accurate as an average for the area.
As for rents, not sure how rentometer is showing $1,400 as an overall average.
Based on data from the most recent American Community Survey here are the breakdowns for rents in Aurora:
1.4k seems to be the average for units with three beds of greater, but not smaller units
Also, according to the data, rents will be higher as you move out from the center of the city:
Hope this helps!
Thanks for the input @Art Perkitny . Yeah the property I'm considering is a 3-bedroom SFR, so it sounds like Rentometer is more or less accurate here.
I’m not far from there Richie, connect with me. I’d love to have a friend in your market and help you with mine.
Hiya, I'm a brand spanking new investor, so take my input with a grain of salt. Having said that, this area is kinda my backyard :)
Rents seem to be higher on the fast east side of Aurora, which shares a *much* better school district with western Naperville than is available in the rest of Aurora.
hope this helps!
@Richie Thomas Did you end up purchasing the property? If so, how'd it work out for you? I have one rental in that area that's doing well and currently looking for more, so always interested in conversing about the neighborhood!
Hey @Brendan Moehn , I did not purchase that property. Currently looking in other states.
@Richie Thomas Do you mind if I ask why you decided not to pursue the mentioned property?
Sure thing @Brendan Moehn , mostly because I decided to re-focus on other markets / other states. I'm currently looking at Indianapolis, IN and Fayetteville, NC.