Salem County, NJ rental demand

[Nnamdi Mowete]

Hello. I am from Delaware. Things have dried up a bit when it comes to multi-families in Delaware. I am considering investing in Penns Grove, NJ. Does anyone know if the demand from renters is high in this town or the area? The home I am interested in has renters now, but I am concerned about what happens if they leave. Is it hard to find renters in this area? Thanks.

[Mike Bonadies]

@Nnamdi Mowete welcome to the Deep South Jersey Market! @Stephen Kappre is very knowledgeable about the area and he is a great resources.

I manage rentals and have rehabbed houses in Salem County (Salem City, Alloway, Penns Grove, and Pennsville). Salem County can be one of the toughest areas to landlord in the state, especially Salem City and Carney's Point. Penns Grove is step above both but the toughest part is finding a quality tenant. Salem County has a depressed economy and the average income is low. Furthermore the properties are older and have a considerable amount of deferred maintenance. If you buy one in the area I would be comfortable with pre-1950 construction.

Best Luck!