The Best Towns in North Jersey for MF Investing

[Andrew Rodriguez]

Hey Guys - I'm looking to purchase a small MF in Northern New Jersey and was looking for any thoughts, recommendations or advice on which towns are the best to keep an eye on. In particular, I'm curius about towns with preferential taxes and easy commutes to NYC. Thanks!

[Max Vishnev]

Hey @Jeremy M Danan!  Glad to hear you're looking at Bayonne 2-families to house hack.  I think that's a great idea.  Just today, we saw a U Haul truck across the street, with a man and woman unloading.  Turns out they are moving in (relocating from the Journal Square area in JC, with two little kids.  We went from renting in Brooklyn to buying in Bayonne, because Brooklyn prices are insane.  This family is moving south from JC, because JC prices (in some parts) are pretty high now too.  So Bayonne is benefiting from both of these migration trends, not to mention all the new development and the ferry to Downtown NYC coming soon.

Now, to answer your specific questions regarding rentals (which is a great question): I looked at MLS for all RENTED 2br/1bath apts that were listed since Jan 1 of this year. 114 of them have been rented, at an average price of $1,520. So right around the mid-point of what you are seeing. The price range was $1,200 to $2,000.

I hope this helps.  Feel free to message me if you need any help with your search.  I'm a licensed agent and Bayonne resident.