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/\ To be honest, not really, but a look at the police reports as well as antecdotal reports from those who go there is disconcerning. It's telling those areas are never really mentioned as either immigrant destinations nor places working class are moving to.
So do you all think purchasing a home for investment purposes would be beneficial? There are still a number of foreclosure deals out there. These neighborhoods were hit hard by predatory lenders.
I would focus on Laurelton, near the LIRR station, to give me a quick transportation alternative to the bus/subway.
Heeeeeccckk No. No and No! I own an investment property in Howard Beach and its a total PITA to rent it out, deal with petty tenant complaints (being a landlord sucks even if you screen carefully and follow the rules) and then paying taxes, insurance, etc on top. If you PLAN to buy an investment property w 100% CASH and only intend to pay the taxes/ins on it - it MAY be worth it, but given so many variables, I just don't recommend getting such a property in SE Queens. If my property were located in an uber-desirable area of NYC (like Forest Hills or anywhere south of 96th St in Manhattan), I would be inclined to agree with you.
My parents live in Woodhaven and the majority of people moving into their neighborhood are Hispanics and believe it or not, whites and mixed-race families that are priced out of Brooklyn/Manhattan. Over the past 2 years alone, 3 homes on their block have sold to young professional couples who were renters in Midwood, East Flatbush, Park Slope. So as parts of Queens like Ozone Park, Woodhaven, Richmond Hill, blocks west of Jamaica continue to "gentrify" (albeit slowly), the majority of SE Queens will most likely stay the same.
As far as rents in Jamaica, someone up-thread made a remark about how rents in Jamaica are "cheap". I really disagree with this. The big duplex apt buildings right near the E/F lines on Sutphin and Archer Ave are going for premium prices right now. Over the past 5 years, I have had potential tenants who came to see my apt in Howard Beach who were living in Jamaica and claimed rents have been rising steadly in recent years. My current tenant was actually paying $ 1500/month (w/ parking amenities included) for a 1 bedroom right off Jamaica Ave near Sutphin. She left precisely because her rent jumped about 35% in just 1 year.
I also agree that areas of Elmont/Valley Stream/Malverne are not really an option for those families looking at SE Queens towns like Laurelton/St.Alban's, precisely because of the taxes. Homes in Nassau County are usually cheaper than Queens but what you save in the price, you lose with property taxes which are usually double or triple what you pay in NYC.
My parents live in Woodhaven and the majority of people moving into their neighborhood are Hispanics and believe it or not, whites and mixed-race families that are priced out of Brooklyn/Manhattan. Over the past 2 years alone, 3 homes on their block have sold to young professional couples who were renters in Midwood, East Flatbush, Park Slope. So as parts of Queens like Ozone Park, Woodhaven, Richmond Hill, blocks west of Jamaica continue to "gentrify" (albeit slowly), the majority of SE Queens will most likely stay the same.
I imagine that many of the new residents in Woodhaven and Richmond Hill are coming from Ridgewood and Glendale as well. I have been noticing more rentals for there in the real estate office windows around here. So my guess is that the agents are trying to pick people up from over here, move them there, and bring in new residents from the west here.
Heeeeeccckk No. No and No! I own an investment property in Howard Beach and its a total PITA to rent it out, deal with petty tenant complaints (being a landlord sucks even if you screen carefully and follow the rules) and then paying taxes, insurance, etc on top. If you PLAN to buy an investment property w 100% CASH and only intend to pay the taxes/ins on it - it MAY be worth it, but given so many variables, I just don't recommend getting such a property in SE Queens. If my property were located in an uber-desirable area of NYC (like Forest Hills or anywhere south of 96th St in Manhattan), I would be inclined to agree with you.
My parents live in Woodhaven and the majority of people moving into their neighborhood are Hispanics and believe it or not, whites and mixed-race families that are priced out of Brooklyn/Manhattan. Over the past 2 years alone, 3 homes on their block have sold to young professional couples who were renters in Midwood, East Flatbush, Park Slope. So as parts of Queens like Ozone Park, Woodhaven, Richmond Hill, blocks west of Jamaica continue to "gentrify" (albeit slowly), the majority of SE Queens will most likely stay the same.
As far as rents in Jamaica, someone up-thread made a remark about how rents in Jamaica are "cheap". I really disagree with this. The big duplex apt buildings right near the E/F lines on Sutphin and Archer Ave are going for premium prices right now. Over the past 5 years, I have had potential tenants who came to see my apt in Howard Beach who were living in Jamaica and claimed rents have been rising steadly in recent years. My current tenant was actually paying $ 1500/month (w/ parking amenities included) for a 1 bedroom right off Jamaica Ave near Sutphin. She left precisely because her rent jumped about 35% in just 1 year.
I also agree that areas of Elmont/Valley Stream/Malverne are not really an option for those families looking at SE Queens towns like Laurelton/St.Alban's, precisely because of the taxes. Homes in Nassau County are usually cheaper than Queens but what you save in the price, you lose with property taxes which are usually double or triple what you pay in NYC.
I'd buy for cash and rent to a family member already in the area. Foreclosure property very cheap
I'd add Lakeview, a chunk of west Freeport and the Belmont Park area of West Babylon to the first part of the post. I think there is an area of Westbury as well.
Some do move to other communities that are mostly White, but may have a long time and at least notable Black population like Rockville Centre, West Hempstead, Deer Park, etc. Some even go to places like the Roslyn or Great Neck areas too.
Yesterday, you posted a good link and it shows income by race of each community. Paints a very good picture of the socioeconomic landscape of blacks in the region. This is how the regional communities w/sizable black populations perform in terms of median household income (MHI) according to that site:
$80k and above:
South Valley Stream Black MHI: $147k
Baldwin Harbor Black MHI: $126k
South Hempstead Black MHI: $123k
Valley Stream Black MHI: $113k
East Massapequa Black MHI:$108k
Baldwin Black MHI: $103k Hillcrest (Rockland Co) Black MHI: $101k
Lakeview Black MHI: $101k
Westbury Black MHI: $100k
West Babylon Black MHI: $97k
North Valley Stream Black MHI: $97k
Elmont Black MHI: $96k
Uniondale Black MHI: $93k
Wheatley Heights Black MHI: $86k
Cambria Heights (11411): $83k
Rosedale (11422): $83k
Freeport Black MHI: $80k
Under $80k:
Amityville Village Black MHI: $78k
Laurelton/Springfield Gdns (11413): $77k
North Amityville Black MHI: $74k
Roosevelt Black MHI: $73k
North Bay Shore Black MHI: $73k
Brentwood Black MHI: $73k
Central Islip Black MHI: $73k
St.Albans (11412): $70k
Gordon Heights Black MHI: $70k
Deer Park Black MHI: $69k
North Bellport Black MHI: $66k
Canarsie (11236): $62k
Bay Shore Black MHI: $61k
Queens Black MHI: $59k
Rochdale (11434): $57k
Wyandanch Black MHI: $54k
Hempstead Black MHI: $54k
Huntington Station Black MHI: $47k
Glen Cove Black MHI: $45k
Inwood Black MHI: $44k New York State Black MHI: $42k
Brooklyn Black MHI: $41k
Bronx Black MHI: $37k National Black MHI: $36k
Manhattan Black MHI: $33k
Its sad that the numbers are so low for Manhattan and Brooklyn. No wonder they get pushed out so easily by hipsters
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