NYC is one of the best cities if you want to invest in real estate and rent them out. We will, however, present you with top NYC neighborhoods for rental investment, from the luxurious ones to the most affordable ones. And as fas as the moving, there is no problem here. It is with absolute certainly that we can claim that local movers NYC will be there for you if you or your tenants need to move, so you do not have to worry about that.
Bushwick is an excellent place for rental investment. The prices are not that high as in Manhattan, but its vicinity is excellent. The benefits are multiple here. The median home price is $1.2 million. If you find a home here that you want to rent, you will be in a win-win situation. Here, homes are in a row of two or three-family houses. You will never be short of tenants here, and the rent is amazing as it goes up to $2.470, which makes it one of the top NYC neighborhoods for rental investment. Manhattan is just 30 minutes of commute, and the place is full of parks, art galleries, bars, and restaurants. Unless you work in Manhattan, there is no reason to cross the Brooklyn bridge.
Upper East Side
The prices on the Upper East Side are lower than ever. You can purchase a home for anything in between $250, 000 and $70 million. If you have patience and your finances are stable, you are highly likely to purchase a great real estate for investment. Upper East Side has it all, good schools, museums, Central Park. The nightlife here is outstanding, as well. You can check out some of the best rooftop bars in NYC. Plus, a lot of celebrities live here, which makes it a very desirable neighborhood for rental investment.
Chelsea is one of the priciest neighborhoods in NYC. This is why it can be sorted among the top NYC neighborhoods for rental investments. With commercial movers NYC, every move will be stress-free in Chelsea, we can guarantee you that. The median sales price here is high at $1,175,000. The price went up for 6% since last year, and this is why you should purchase something now, while the prices do not go even higher.
Nevertheless, a lot of properties can be found at much lower prices, of course. You should not settle for the most expensive ones. Just take your time when purchasing a rental investment property, and it will certainly pay off. Chelsea has a lot to offer, like beautiful High Lane Park, or the Chelsea Market Emporium, and Chelsea Piers Sports Complex. Everything is happening here, so do not miss this great opportunity.
Hudson Square is situated between the West Houston Street and Canal Street of Lower Manhattan. This formerly industrial area has turned into one of the most luxurious neighborhoods of NYC. It is definitely considered to be one of the best NYC neighborhoods for rental investment. With a lot of construction work going on, the price of real estate is bound to go lower. Currently, however, it is steady at over $2 million. If you purchase a real estate here it will definitely pay off, as the area attracts more and more people every year. Plus, the prices here are much lower than in the SoHo, Greenwich Village and Tribeca, which are in the Vicinity of Hudson Square.
There are also more affordable NYC neighborhoods for rental investment
We have presented you with some of the most luxurious neighborhoods of NYC for rental investment. However, there are much more affordable sites, where you can make your purchase and rent the real estate. Some of these include:
- Cambria Heights
- Park Hill
- Fort Wadsworth
It is situated in the southeast part of Queens, with 27 thousand inhabitants, which makes it a peaceful place to live in. This is a very quiet neighborhood in NYC, and it has single-family homes and the crime rates are very low. The median sales price is only $485,000 which makes it affordable on so many levels. The median rental income is around $2,700 which is very satisfying. This neighborhood offers a lot of schools of great quality, so your tenants will most likely be families with children.
Clifton has a population of around 10,000 inhabitants and is situated in the North Shore of Staten Island in NYC. The median sales prices are even lower here, at $415,000. It is among the most popular NYC neighborhoods for rental investment. People who live here usually want to get away from all the traffic and pollution of the big city. The nightlife here is great, and schools are also excellent. You should definitely not overlook this neighborhood.
Melrose is maybe one of the most perfect NYC neighborhoods for rental investment. You may be surprised to find out that almost 95% of people rent a home in Melrose, whereas only 5% live in their own houses. These percentages speak for themselves, and you will not make a mistake if you purchase a real estate here. The median price is around $430,000 and median rent income is $1,850. Your home will certainly never be empty so this is one of the neighborhoods that you should visit among the first ones. If you already have an apartment here, check out the permits for apartment renovation that you will need.
If you are buying a real estate in NYC, you will not make a mistake. This is a city of opportunities, diversities, and chances. Many people are looking to find the place to rent, and you can be their landlords. We have given you an insight into the most luxurious NYC neighborhoods for rental investment as well as the most affordable ones. After all, you know what is best for you and we are sure that you will make a great choice. Good luck!