New Apt Complex being built next door to MFR I'm Considering.

[John Walter]

I am considering putting in an offer on a MFR in NJ. The neighborhood has a ton of investment pouring in the past few years, and the city's plan makes me think property values will continue to increase for the foreseeable future.

Case and point: There is a brand new apartment complex being built next door to the property I am purchasing. Will this increase the property value of the neighborhood, decrease it, or have a minimum effect?