Advice on neighborhoods in Richmond
Hi there,
I am looking into buying my first property just north of Richmond in North Highland Park. I was wondering if anyone knows about the area. I've read some articles that its sort of up and coming or gentrifying and that it might be a good place to get some value. I would be purchasing a 3 or 4 bedroom home for around $100,000 and renting it out for a few years. I really just need to know about the neighborhood around there as I know very little about the area. Thanks!
-Scott B
Most Popular Reply
Hey Scott.
I have experience in North Highland Park. My houses are all rented Section 8. A 3 bedroom all-electric house (with a heat pump) should rent for $1085.
I wouldn't get a 4 bedroom rental in that area. It's a low income area and big houses have high utility costs. That means that you don't get paid. Also nobody has a 4-bedroom voucher, so Section 8 isn't really feasible.