Would investing in a duplex next to an airport be a good investment? It is right in the path of the runway.

Asked by Babar, 14225 Mon Jan 17, 2011

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14
MDC, , Buffalo, NY
Thu Jan 20, 2011
When purchasing an Investment Property here in Buffalo NY, the first question I ask myself about the property is, "If I were looking for a place to rent, would I live here?" If YOUR answer to this question is full-on "Yes!" and the neighborhood is decent, then regardless if it is right in the path of the runway or even next to a thruway, you will most likely get a flood of renters putting in an application for your Duplex...and since you'll have several to choose from you can be more selective...that's just the way it works here in Buffalo.
1 vote
Ryan Walley, Agent, Williamsville, NY
Mon Jan 17, 2011
I wouldn't worry about the home being in the path of the runway if the rents and expenses look good, as Joe mentioned below. Make sure they know that airplanes do go by every day, as Anja says, they may request a rent reduction or ask to move because of the noise they wern't aware of.
1 vote
Joe Sorrenti…, , Buffalo, NY
Mon Jan 17, 2011
Are you are talking about the Buffalo International Airport? I used to live and own there. Quite frankly, you have to look at the Income vs Expenses of the property and the area. It also would depend on if you were going to live there or rent both out, pay cash or borrow money, is it a 2/2 double or 3/3 double? Is a garage included?

Rentals in that area are usually decent but you might be able to pay less and get a higher rental income if you are near the universities and colleges.
Feel free to e-mail me if you want to get more detailed information.

Joe Sorrentino - Associate Broker
MJ Peterson Real Estate
Serving the Buffalo-Niagara Region
joe@joesorrentino.com
1 vote
Cathy Barton, Agent, Fairport, NY
Thu Aug 9, 2012
Would you like to live next to the airport? You need to look at the rents currently and then all the operating costs and see if it is a good investment. Look around at the rents current in the area are they comperable, more, less? Don't plan on upping the rentals if they are comperable or higher in the area. Maybe it is a good buy because of the Airport therefore not being such a good buy afterall.
0 votes
Cgrbuffalo, Home Buyer, Derby, NY
Wed Aug 8, 2012
The neighborhood is ok but stay away from the noise. I lived there for years. Find something better if you can. Carolyn now in Buffalo.
0 votes
Kimberly Add…, Agent, Williamsville, NY
Sat Feb 19, 2011
As with any investment property if the home is priced properly for area and condition and the rents and occupancy rate is positive go for it. Many properties with in close proximity to the Buffalo-Niagara International Airport qualified for the "Quieter Home Program".

As an aside, I happen to own rental property in close proximity to the airport and have always been able to find quality tenants.

Good Luck!
0 votes
Dp2, , Virginia
Wed Feb 9, 2011
I used to live by the Orlando airport, I lived by a hospital in Cleveland which had life-flights 24/7, and I live right next to a hospital which receives life-flights 24/7 now. In all 3 areas, my neighbors and I got used to it. We had/have great highway access, and were/are close to several shopping centers, etc.

I agree with Joe and Ryan.
0 votes
Dawn Toledo, , 14226
Wed Feb 9, 2011
If your looking for investment properties in the Buffalo/Niagara Falls...go to http://www.rdToledo.com
We have 14 rentals and adding 7 more this week in all area at all price ranges...from 10k to 91k..(4unit)...good luck
Web Reference:  http://rdToledo.com
0 votes
Sandra Pond, Agent, Kenmore, NY
Fri Feb 4, 2011
I am surprised that agents from other parts of the country felt qualified to answer this question! Actually the area you are asking about is a nice suburban neighborhood. There are planes that fly over this area, but in other areas there are trains or highways that create noise. Is a university area better? That depends on who you find to rent the apartments. There are various problems with renting to students, too.
I checked the MLS and there are only a few duplex on the market in the area, and they claim to be easy to rent consistently. I could show you how to look at the financial facts to see what the profitability is. just be sure to do the math and think it through.
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Thu Jan 20, 2011
I don't even need to see it, I would advise against it. Would you want to rent a property that was next an airport and under the flight path of planes? With all the rentals that are available in your area do you honestly think this house would appeal to someone.

I suspect the price is incredibly low, and this should tell yhou everything you need to know,. No one wants it.

Do yourself and huge favor and forget about this property and keep looking. You'll find something that makes more sense.
0 votes
Chris Gubb, Agent, Ridgewood, NJ
Thu Jan 20, 2011
Hi Babar,
Have you researched what other rentals in this area pull in...monthly rent? are their other duplexes unrented and sitting? How much inventory will you be competing with? What is the history of other duplexes rented..how long did they sit unoccupied before renting? How fast do they turn? Nothing worse than vacant investment property.Was a price reduction needed?
A local agent will be able to give you this info.
Good Luck,
Chris Gubb
PS I must say for sure you will be limiting your tenant pool since there will be some that won't be interested in this location
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Jan 17, 2011
It's really a matter of personal preferences....without much information, will both units be rented, is it currently tenant occupied, and if so for how much, what about it's condition, etc.; what is your agent advising.....if you don't have an agent, consider the idea, take a look at current area rentals, rented properties, look at income and investment, any extensive repairs, etc., then make your determination....
0 votes
Todd VanDyke, Agent, Great Valley, NY
Mon Jan 17, 2011
Real estate investment is always a personal and business choice, based on your investment tolerance level, and the ability the property has to generate income. Just because it is next to an airport does not mean it could not be a good investment. I would check with a local Realtor for further advice to investigate property values and trends around the airport. Being in the path of the runway might be a great view for someone who loves airplanes!
0 votes
Anja Wright, Agent, Kenmore, NY
Mon Jan 17, 2011
Hi Babar,

I think it would probably be adviseable to find another property farther away from an airiport. If you're planning to rent it out, a savvy tenant could definitely make the argument for a reduction in rent due to the airport noise. In the end though, it all really depends on exactly how close this property is to the airport. Some people don't mind, but all other factors aside, it might not be a good idea if you're looking to rent it to tenants. If you need more help or have other more specific questions, feel free to give me a call at 716-218-0015.

Best wishes in your decision,
Anja Wright
Web Reference:  http://AnjaRealEstate.com
0 votes
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