What are your thoughts on Pittsburgh, PA, specifically Oakland

Question

Hi everyone,

What are your thoughts in Oakland, PA?  Im trying to do my due diligence on the area.

The high taxes of Allegheny, as well as year after year population decline worry me.  However with CMU and Pitt being right there, I look at this as a huge plus.

What have your experiences been with this area?  Also, any recommendations for property management?

Thanks for any insights or things to consider.

Joe M. · Answer

In trying to do some due diligence, anyone else have any recommendations for property management in Pittsburgh, specifically Oakland for student housing?

Jim K. · Answer

FORTY-EIGHT YEARS and the grudge lives...

Steve Morris · Answer

Sorry, Raiders fan.  Have an aversion to Pittsburgh since Franco DROPPED that pass and the Raiders got robbed.

Account Closed · Answer

If your market is college rentals, then you are in the right place. These can most definitely be cash-flowing properties, but they take more methodical planning to avoid gaps in leases and usually, you have to start marketing 6months out in order to catch the eyes of the students for next semester. Leasing in South Oakland is pretty solid if you ask me. I don't invest personally there, but I do have the pleasure of showing these rentals at times.

Matthew Bonosky · Answer

Hey Joe!

Oakland can be a great area to own a rental. Overall, I don't see the property values going down with CMU and Pitt being right there (except in an overall market downturn). You would have to take into account that the majority of tenants would be students which can be a plus or a minus depending on how you look at it. So if you did acquire a property in that area, timing would be crucial to make sure it's rented during the peak school leasing season.

Joe M. · Answer

@Nathaniel Buck Account Closed

I really appreciate the posts.

Do you know of any reputable property management who focus on student rentals by CMU/Pitt?  Know anything about Donovan and Associates?  They dont have much web presence, but look to deal in that area.

Joe M. · Answer

lol yinzers throwing salt

Nathaniel Buck · Answer

Hi Joe,

Assuming you’re talking about South Oakland, right next to the college campuses, I think the real question you want to ask is if you want to get into student housing. I don’t have investment properties in that area but do live near there (and went to Pitt). If you’re close to the college campuses, I think you could safely assume a vacancy rate near 0, but you add the headache of dealing with college students as renters.

Also, are you referring to population decline specifically in Oakland, or more broadly in Allegheny County?

What are your thoughts on Pittsburgh, PA, specifically Oakland

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