Of course a multifamily will bring the best return .. but think about the amount of students in one place.. uh, could be a mess! ( I have seen some bad houses) It also depends on pricing of your purchase and location.
There are some good buildings for sale in the area, but it also depends on your pricing.. we all want cheap with a big return.. so, you must continue your due diigence with the right agent and find that right property.
Places4Students.com is the official off-campus housing partner for Rutgers University, and their off-campus housing page will direct you there. To view the actual Rutgers off-campus page (as students would) you can click on the following link to get an idea of what's being offered in the area to students: https://places4students.com/Places/School.aspx?SchoolID=25pI
If you've got any questions about renting to Rutgers students feel free to email me email@example.com
Multifamily will usually give you the best return in your case for these reasons:
- The cash flow will be better and your vacancy risk will be less since you're not relying on only one rent stream.
- I suspect college students are more likely to live in groups than on their own which makes a one-bedroom less attractive.
- Multifamily properties usually have lower rent rates in comparison to single-unit condos and college students are all about lower rent rates.
- Tenants in single family rentals stay longer and decrease your turnover costs but this is no advantage to you since renting to college students leads to high turnover rates no matter what your property is.
Check out multifamily properties available for sale here: http://search.pspreal.com/i/9425/New_Brunswick_Multifamily
Patric Santo Pietro
Prudential New Jersey Properties