Amsquire, Home Buyer in Greenwich, CT

My husband and I currently own a home in Greenwich. We are interested in purchasing an investment property in a nearby area (2-4 units). In terms

Asked by Amsquire, Greenwich, CT Tue Mar 30, 2010

of rentability and best rents, what is the best location? Stamford, Norwalk or Darien?

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If you are planning to take out a mortgage on the property, what you may want to look at is what percentage you plan to put down, and what kind of rate of return you would get based on purchase price, interest rate, loan size, etc. If you can get a 4 unit that is inexpensive enough, a large down payment and higher rate on multi-unit investment properties. Generally the higher the rent, the higher the purchase price, so you might want to see what makes the most sense.
1 vote Thank Flag Link Tue Mar 30, 2010
Amsquire,
There are so many great options for investment properties.
Darien, New Canaan & Greenwich will yield higher rent.
The purchase price is higher.
Norwalk & Stamford have more inventory in a wide price range for sale.
Please call me to discuss.
Hannelore Kaplan
203-653-6619
kaplanh@raveisre.com
0 votes Thank Flag Link Tue Mar 30, 2010
All of those areas are great choices. We have seen a greater demand in Stamford and Norwalk. This may be attributed to population size.

If you have any other questions, feel to contact Ron Modiano at 203.757.7202 x 426 (Abreu Realty). Ron has a vast experience in residential investment properties.
Web Reference: http://www.abreurealty.com
0 votes Thank Flag Link Tue Mar 30, 2010
That really depends on the individual property. I can tell you that I see alot of interest in being close to the center of Stamford. I listed a condo on Forest St. Last week and it went in 20 hours which is NOT typical of this current market. I also have a couple of buyers who are hell bent on being walking distance to the Stamford Train Station.

I'd be happy to assist you finding some of these properties. I am aware of one very good short sale that is currently off the market.
0 votes Thank Flag Link Tue Mar 30, 2010
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