Purchasing in Bed Stuy Brooklyn

[Yvonne Shui]

Hi BP community

I’m looking to purchase a 2 family in Bedford Stuyvesant as my primary residence. My husband and I will be using this property as househacking that we will be staying in the rental unit while renting out the owner’s duplex.

The numbers make sense now and I think it would make a good investment. I know the neighborhood is gentrifying greatly over the past decade but still, I’m a bit concerned about 1. the safety of living in this area. 2. Will we be getting good-paying tenants with not a lot vacancy. 

Here's some basic information about us and the house we are bidding on:

1 north of Lafayette Ave and East of Nostrand Ave.

2 sits on a treeline block with all brownstones. Some of them are gut renovated and sold for a good price.

3 asking price: $1.6m, the projected rental income of the owner unit is $4800

4 we are an East Asian couple in our early 30s, no kids

Any info on this area or any advice or suggestions would be greatly appreciated!

Thanks in advance!

[Susan Tan]

I'm following this thread as a REI in Ohio where $100k (or under) properties can cash flow very well. It is shocking to me that NYC REI would gamble on rapid appreciation over cash flow. In a recession, cash flow is far more secure than betting on appreciation.