Student housing/ college rentals

[Rumbi Chakabva]

I have a duplex less than 100 feet from a growing university and it sits on a land that has 2 other adjoining lots, both of which I own. I have students renting both apts and i'm constantly getting requests to rent. I'm thinking of building a 4-6 plex specifically to house students on this lot. Haven't done the math to see how much that would cost me. The current duplex I have on the land cost me $40K, put in $15K in renovations and get $630 per unit, $1260 a month. I only pay the water because there is one meter. Prices of houses in the area are rising though but most are around the $100K range. my question is what are the pros and cons of student housing in the long run? Anybody investing in student housing? Would it make sense to build a new building in a street where all the houses are old to meet this need? By the way, the college just built new apts for students across the street but they hardly meet the growing need for accommodation in the area.

Thanks for any info