Advice on neighborhoods in Richmond

[Scott Berman]

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

[John Pierce]

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.