Rental Property Investor · Member since 2021 · 120 posts · 69 votes
6mo
We looked there for a while, as long as you're ok with D area being D area... lol. There's a ton of potential. Such low entry cost and tons of renters. It's one of the only parts of NY that the section 8 prices are higher than rents!
Rental Property Investor · Member since 2021 · 120 posts · 69 votes
6mo
We looked there for a while, as long as you're ok with D area being D area... lol. There's a ton of potential. Such low entry cost and tons of renters. It's one of the only parts of NY that the section 8 prices are higher than rents!
There is so much grants for homeowners to build their property in class c/d neighborhoods. What are others thoughts on this market
Syracuse has definitely been on more investors’ radar lately for the same reasons you mentioned, grants plus solid rent-to-price ratios can make deals pencil well. The tradeoff is usually older housing stock and more management intensity in C/D areas, so having a strong team matters a lot. That’s why some out-of-state investors also compare it to Midwest markets, where you can still find similar cash flow but sometimes with more stable tenant bases and easier operations. It really comes down to your risk tolerance and how hands-on you want to be.
Real Estate Agent · Central New York · Member since 2023 · 207 posts · 96 votes
6mo
I'm an agent in the Syracuse area and it's definitely starting to garnish more investor attention given the micron news. As you mentioned, there are several grant programs aimed at homeowners. Lots of them are targeted at buying older run down houses in the city as part of an effort to revitalize the city. Section 8 is a big draw for investors in the area, and their rent allotments are more than generous compared to private self pay tenants