DianaTheReal…, Real Estate Pro in Pawling, NY

Ponte Verde vs. Emerald Isle... which complex is nicer, has higher rents (2bd/2bth), would you prefer to own?

Asked by DianaTheRealtor, Pawling, NY Tue Mar 17, 2009

I'm a NY Broker considering purchasing a foreclosed unit or short-sale and wondering which community is a better choice. As an out of state buyer, I'm looking for opinions of everyone familiar with the area -- other owners, local real estate professionals, potential or existing tenants, etc. If you prefer another complex within a similar price point, which one and why? Thank you.

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Jerseygirl In Pbc’s answer
BEST ANSWER
I've lived in Emerald Isle and almost put an offer in for a unit in Ponte Verde. Both places are rentals converted to condos and have more renters than owners. However Emerald Isle is the better place. It's man gated 24 hrs and the ammenties are better. The HOA is strict on the owners who rent their units. They are not rented to just anyone. The renters keep to themselves and the community is quite. As for ponte verde it's an older rental community converted into condos with minimal upgrades. It's not man gated and the gate rarely works properly. I'm from New Jersey and think you will like Emerald Isle better, Just one bit of advice try to get a unit as close to the club house as you can. The building further away in the back tend to be all renters. I rented a 1/1 on the 3rd floor of building 4208 facing the lake @ $1,100 a month and it was well worth it. the views is amazing. Good Luck!
1 vote Thank Flag Link Tue Apr 28, 2009
My brother lives in Ponte Verde and let me tell you it isnt that great. His wife's car was broken in once, all of their neighbors are gone hes the only one in that part of the complex and all of the sudden he is getting ants (we think they are spraying bc theres not that many tenants there). Ponte Verde is an old complex from 1985 and some of the units are nice and some aren't. It is almost ghetto. I've been to San Marino in Emerald Isles and it is nice and the association fee comes with alot more features then Ponte Verde and I believe it is alot newer then Emerald Isle. Another complex I like which at one point condos were selling for 250k is Milano it is on the same line, you will probably be able to rent more there. Hope I helped.
1 vote Thank Flag Link Mon Apr 20, 2009
I don't know how to say thank you, but I wanted to write a quick THANKS to all who answered! From everything I researched, JerseyGirl in PBC is right on the money about Emerald Isle... I had ruled out Ponte Verde before receiving the e-mail from Bargainhuntess09, but I thank you so much for reinforcing my decision!
Regarding Emerald Isle, I wanted to stay in one of the buildings toward the front (by the clubhouse) because the complex is large, but it's good to hear a resident's opinion. I am now in contract and buying a unit in Emerald Isle. The unit is a gorgeous 2 bed/2 bath, top floor with vaulted ceilings overlooking the lake. Absolutely awesome! Thank you all for your input.
-Diana
0 votes Thank Flag Link Tue Apr 28, 2009
It is likely going to be more important to know the cash flows - they should rent for similar prices but which is going to cost more to hold.

Ponte Verde and Emerald Isle are both condo conversions with renter concentration - meaning lots of tenants vs few owners living in the property. I think as a whole Emerald Isle shows better but both could be a challenge in a foreclosed or short sale due to property condition.

I think your answer is more of a case by case basis - 2 vs 3 br, which will get more rent that day, which has higher HOA, which has better tenants and lower management costs etc...

I know that the HOA @ Emerald Isle will manage for you.
0 votes Thank Flag Link Wed Mar 18, 2009
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