Home Selling in Port Chester>Question Details

Frank Jones, Home Seller in Port Chester, NY

How is the market in Port Chester for 3 family homes?

Asked by Frank Jones, Port Chester, NY Tue Apr 7, 2009

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Frank Bailey Sr.’s answer
Wow, Jefferson... I was born and raised in Port Chester and never recall it being a place you "go in and get out". When was this timeframe? In the 70's and 80's it was a great place to live.

Port Chester used to be one of "those towns", where you'd head in to get something and get out, and not a great place to live or raise a family
0 votes Thank Flag Link Tue Apr 7, 2009
Hi Frank, I was born and raised in Rye Brook and sill reside here. The multi family homes were hard hit this past year or two but depending on location and condition it can still be attractive to many Buyers. The most important factor for a Multi family is the income it produces, that is what investors are concerned with. The location and condition is important because this will be very important in determining the rent. Another good thing is the Jumbo loan limits for multi families have all been raised to attract buyers. As with any property, couple the above mentioned factors with the right price and you will most likely have success.

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023
0 votes Thank Flag Link Tue Apr 7, 2009
Frank, I can send you a list of 3 family homes in Port Chester for comparison purposes. Multi-family homes have been particularly hard hit during this crisis. The buyers that were attracted to them no longer can qualify for mortgages. I am also a certified appraiser and I can really help you understand what the market is like for multi-family homes now. Best, Maria Mantis. You can call me at 525-9472.
0 votes Thank Flag Link Tue Apr 7, 2009
Hi Frank,

Things have changed so much since I lived up there. I grew up in the town next door, and the best pizza place in the entire known universe was A1 Pizza on the Post Road across from the Tennis academy. Unfortunately it's just a restaurant now and if you want to have that old calzone taste, you'd need to head out to Whitehouse Station, NJ - where they make exactly the same calzone that A1 did. After all these years, I still have yet to find a slice as good as the original A1.

Port Chester used to be one of "those towns", where you'd head in to get something and get out, and not a great place to live or raise a family. Port Chester has really been transformed and has become quite desireable with it's proximity to NYC and easy train access. And it's gotten Expensive. Apartments there used to rent for $300-450. Now ... wow! A lot of people wish they had bought a multi-family there before the boom.

Here's Trulia's full list of multi-family homes in Port Chester:
http://www.trulia.com/for_sale/Port_Chester,NY/#for_sale/Por…

There may be others not in this list - it's just what Trulia has.
0 votes Thank Flag Link Tue Apr 7, 2009
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