Rental properties in Poughkeepsie NY

[Stephen N Workman]

Hey I'm looking to invest in multifamily units in Poughkeepsie NY. What are the average rents for a newly renovated 3 bed 1 bath unit? I toured a property that looks like a good investment numbers wise, I just need some guidance as to whether I should take action as it will be my first investment

[Brian Zaug]

I own a bunch of multis in the city.  Pricing out a 3/1 for rent absolutely depends on where in poughkeepsie the house is.  As Eric said, the area has had a nice price surge over the past 6-10 months.  Lots of investors are coming to this city as it's got one of the highest cap rates in the area.  I'm constantly getting texts, letters and phone calls of investors asking me if I want to sell.