What kind of cap rates are people seeing in Newburgh, NY today? Back in 2019 it was about 9% or 10%. Now it seems seriously compressed to as low as 6%. I'm not sure if this is what things are actually trading at, or just what Sellers are looking for. What are your thoughts?
I have 2 sfr in Newburgh.
Things are tighter than in 2019,but that seems to be true all through the Hudson valley.
Newburgh, as always,is block by block.
Long term it looks like a good investment, but I would buy again on the next pullback. Either that or start beating the bushes and hope for a decent off market deal.
Good advice @Bill O'Donnell thanks!