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Updated over 7 years ago,
Pittsburgh Neighborhoods for young professionals, 1% rule
Hey guys! We just sold our 4-unit building in San Diego, looking to do a 1031 exchange.
We would like to invest 700-900K (two buildings containing 2/3/4 units) into neighborhoods with young professionals (NOT STUDENTS), where we'd like to be able to collect 1% rent (of the purchase price).
I've been looking at Lawrenceveille, Morningstar, Highland Park, Sq. Hill, South Side (Slopes and Flats) and Mt. Washington neighborhoods, but I am not sure our 1% rule can be met here due to increasing home values in the area in the past 2-3 years.
I was also looking at Brookline and Greenfield.
Any other suggestions for other good neighborhoods with strong rentals and low vacancy rates?