Of course you are. And that’s why so many savvy investors are looking at Newark as a great place to park some serious dough. Here’s an example why.
- Let’s say you have $500,000 to invest and your preference is multi-family buildings. Based upon available properties in Newark in late November, 2016, and listed on Loopnet, the average capitalization rate is 9.8%. That translates to $49,000 in Net Operating Income.
- A similar investment in Jersey City will yield 5.9% for a Net Operating Income of only $29,500.
But Newark isn’t as hot as Jersey City argues the naysayer. That’s right…at least for now. But drive around downtown and see for yourself what’s happening. Money is literally pouring into Newark.
So, you have a choice: buy high and hope to sell higher some day or buy a lot lower and reap a windfall as Newark continues its renaissance.
973-865-1863 is my cell phone number in case you’d like to chat.