Local Market Overviews

[Kevin Sobilo]

Let's get some posts going in our local forum here. I propose responders to give their view of a local market they are familiar with. Within our region there are countless small municipalities and neighborhoods, since all real estate is local I'm sure most of us aren't intimately familiar with all the mini-markets within our area.

I'll start things off with Nanticoke:

Its a small working class city. I believe the majority of it is zoned R-2. I view the rental market as strong because not only to multifamily cash-flow, but many single families do as well.

The municipality is investor friendly in my experience. Everyone in the code enforcement office has been friendly and helpful to the point that you almost don't mind writing them checks!

The average rental unit is very outdated and in C-minus condition in my opinion. So, you don't have to build the Taj Mahal to attract tenants.

Nanticoke has the campus for the local community college within its limits so there is some call for student housing.

They recently completed a new road to access Nanticoke called the South Valley Parkway. Most of this road recently opened and has made access to parts of Nanticoke and Newport Twp beyond it much better. There is also industrial development going on in Nanticoke and the adjoining Hanover Twp. Warehouses primarily it seems, but these modest income jobs are plenty enough to afford the local rents.