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Old 10-21-2009, 04:52 PM
 
4 posts, read 11,993 times
Reputation: 10

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I am looking to invest in a rental property (multi-family home) somewhere between NJ and MA. I have family in Springfield, MA so CT seemed like the logical choice.

Are there any towns in CT that look like good areas to invest at the moment? I am looking at college towns, business centers and up and coming areas that have high rental traffic.
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Old 10-21-2009, 07:11 PM
 
Location: Bristol, CT
90 posts, read 208,533 times
Reputation: 62
New Britain, West Hartford, Farmington
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Old 10-21-2009, 08:59 PM
 
Location: Connecticut
34,636 posts, read 56,391,795 times
Reputation: 11150
Unfortunately I do not think you are going to find any real bargains in Connecticut. even though the economy is down and real estate prices have dropped, prices here are not as low as other parts of the country. That said you may want to consider Middletown which has seen a lot of improvements in the last several year. Manchester too might be good. Not sure I agree with the New Britain suggestion though. I do think that downtown Hartford is going in the right direction as is downtown New Haven. Jay
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Old 10-21-2009, 09:03 PM
 
21,516 posts, read 30,922,140 times
Reputation: 9600
Bridgeport.
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Old 10-21-2009, 09:26 PM
 
Location: CT
113 posts, read 363,922 times
Reputation: 40
i second bridgeport
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Old 10-21-2009, 09:30 PM
 
Location: West End-Hartford
625 posts, read 2,041,178 times
Reputation: 377
New Britain around Central Connecticut State University (CCSU) always commands good rents, as long as you are willing to rent to and deal with college kids. You can also typically get good rents in the West End of Hartford because of the UConn Law School and Hartford Seminary and around the Trinity College area, known as Barry Square. Hartford has over a year of inventory in multi families right now, so there are good buys out there, you just need to take the time to investigate them. West Hartford Center commands good rents, but there are not really good multi families for sale there right now. I am not familiar with the New Haven and Middletown markets, but would assume those towns would have strong rental areas as well.
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Old 10-21-2009, 09:47 PM
 
Location: NJ
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Probably not New Britain. I have family in New Britain that have either gotten out or are trying to get out. Taxes there are very high and the city is basically headed in the wrong direction.
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Old 10-21-2009, 09:51 PM
 
21,516 posts, read 30,922,140 times
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Wasn't Bridgeport recently ranked the best place to invest in real estate in the country?
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Old 10-22-2009, 10:41 AM
 
723 posts, read 996,823 times
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what is the best / safest area to live in Bridgeport? is it Blackrock?
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Old 10-22-2009, 12:50 PM
 
Location: Connecticut
34,636 posts, read 56,391,795 times
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Quote:
Originally Posted by SailCT View Post
what is the best / safest area to live in Bridgeport? is it Blackrock?
I would say Black Rock east of Ellsworth Street and the North End, north of North Avenue and west of Main Street. Also good is the Treeland area which is the northeast corner of the city. Jay
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