To answer your question about a town-house being a good investment, well it depends. The University area does have a high demand for rentals. Finally, yes you can make money by renting a town house but you could also lose money. The reality is that nothing is perfect! The market goes up and down. You can greatly reduce the chance of losing money by working with a qualified agent. I encourage you to do your research. If you don't know where to start or need help, call an agent that knows the market. I wish you the best!
If you have more questions concerning real estate, feel free to email me at Juliusgreen@kw.com.