New Bedford question

[Account Closed]

I am relocating to New Bedford, Massachusetts and had a couple questions about multifamily units on Clark's Point near Hazelwood park which we would house hack. Specifically, is that a good location for rental units? I know there is only one bus line that runs down Brock but is that important? Additionally, does anyone know if insurance rates are significantly higher due to the location outside the hurricane barrier? Thanks for any feedback.

[Jennifer S.]

Hi all

Many thanks for these great posts. I've been researching areas like New Bedford for cash flow buy and hold investment. I paused on it and switched emphasis to Providence RI as I felt I didn't have enough bandwidth to get to grips with flood zones and insurance. 

Curious how people are thinking on this long term. Do you assume in your cash flow modelling that existing flood zoning won't change in the future? 

A friend of mine bought an investment property near the beach that was quite elevated so premiums were very low but can't imagine the cost of elevating a hundred year old triple decker if zones change in the future. 

See also this piece in the globe ... Maybe this lady in fairhaven hasn't investigated all the mitigation steps but the figure did scare me a bit. I know one has to take articles with a grain of salt

https://www.bostonglobe.com/business/2015/06/02/co...