Thoughts about Lower Vailsburg, Newark? (Irvington, Orange: real estate, rentals, insurance)
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Hi Jerseyites, I am a guy from the Bronx interested in acquiring investment houses to rent to college students. I am new to this so as a stepping stone I am looking in Newark instead of North Philly which had been my original hare brained plan. New York is not an option for me financially speaking.
What are your thoughts about the Lower Vailsburg neighborhood in Newark? I have heard that singer Lauryn Hill lives around here and that it is a Caribbean based community. Is this area preferred by Seton Hall and NJIT students as well as NYC students?
My boys and I are putting in 15K each so we can get a nice house. I don't have a car yet but one of my home boys does but I could probably take a bus there from the Path. How big are houses here?
Although she probably lived there at one point of her life she does not live there now. You would be foolish to purchase a home there. It's a lot of crime. If you must live in that area the closer to Maplewood or the South Orange border would be your best bet but lower Vailsburg is crime & drug ridden.
Lauryn Hill lives in South Orange, which borders Vailsburg. That's also where Seton Hall is located.
I hope you will reconsider buying rental property when you don't know or live in the area or have your own transportation. How are you going to maintain the property and fix things that break? Especially student rentals, since they often trash their houses.
Have you looked into Newark regulations for boarding houses? In NJ, the policies can be strict and the penalties are large. I guess you're envisioning some kind of money-making Animal House situation, but after you've been summoned to appear in court for your tenants' loud parties or party trash in the yard or too many occupants, it won't be as much fun.
Lauryn Hill lives in South Orange, which borders Vailsburg. That's also where Seton Hall is located.
I hope you will reconsider buying rental property when you don't know or live in the area or have your own transportation. How are you going to maintain the property and fix things that break? Especially student rentals, since they often trash their houses.
Have you looked into Newark regulations for boarding houses? In NJ, the policies can be strict and the penalties are large. I guess you're envisioning some kind of money-making Animal House situation, but after you've been summoned to appear in court for your tenants' loud parties or party trash in the yard or too many occupants, it won't be as much fun.
I am aware of what bus lines run through the areas and am purchasing insurance.
You can compare that with Ironbound, which is where most people on this board think is better for some reason, but the stats don't appear to agree with that sentiment - https://www.trulia.com/real_estate/N...rk/4610/crime/
I say do your own research, speak to residents, and visit the area frequently before you make your decision.
Good Luck!
I just want to add I currently live in Harrison, which is the next town over. And I visit Newark frequently...so I'm somewhat familiar with the neighborhoods. Let me know if you have any questions!
If you really are doing it from a landlord prospective then I would stay above Sanford Ave, mostly the Ivy Hill section would work. If you are looking at properties below Stuyvesant it's not that great of an area and the it's to far for the Seton Hall kids to walk. Any given day you see them walking from the campus into downtown South Orange and that would be a hike from down that far. If they have a car then it would possibly work but I am serious when I tell you it's a large drug scene there. Drive down South Orange Ave and across Munn Ave or Isabella and you will see what I mean. The college kids that live off campus mostly live in the private multi-family homes off Irvington Ave by the Walgreens and Ivy Hill Park. It is a big Caribbean community there but that area below Stuyvesant has not been a nice place for years. I'm born and raised in Newark, still have family there, older brother still lives in the Ivy Hill section. If you want to find out the real crime I wouldn't waste my time looking at trulia or any real estate company endorsed site, look at rlsmedia.com if you want to get a real picture of the area.
Why would she not use any real estate endorsed website when that's what she's interested in?
Also, just like you're suggesting she look into real estate websites with a grain of salt, the one you've provided states this exact verbiage on their page - The information made available here has been modified for use from its original sources. Neither RLS Media nor our sources make any claims as to the completeness, accuracy, or content of any data contained on our web or Facebook page;
So what's the difference?
At least Trulia uses sources which state the following which seems more reliable to me - We collect relevant crime data from police agencies and validated sources, plot it on a Google map, and deliver daily and weekly crime alerts. Our goal is to provide the most accurate and timely geocoded crime information to the public.
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