Become familiar with comparable sales, market rents, proximity to points of interest (transportation, shopping, downtown areas,etc), and begin running numbers.

Our proximity and transportation to NYC makes North Jersey extremely desirable especially for house hackers. 

I had an idea to provide bicycles as transportation.

Areas like Lawrenceville, East Liberty, Bloomfield, and Highland Park have exhibited favorable potential due to their proximity to amenities, transportation, and the continuous growth of the local economy.

Surely, more businesses will pop up, more residential and we're sure to see an influx of travelers with the new ease of transportation. 

Stay close to public transport, transit oriented hubs and developments i.e 1888 film studio coming to Bayonne coming to Bayonne's old Texaco site which will be NJs largest film studio and walkable!!

Try searching the following:YOUR CITY or COUNTY + Economic development plan Transportation plan Transportation improvement plan Regional impact project Economic development impact project Strategic master plan Market analysis Residential demand drivers Economic demand drivers Economic development risks and opportunities Migration patterns Gap analysis Demand projections Market study areas Employment snapshot Development snapshot Transportation snapshot Growth snapshot Crime snapshot Employment growth projections Opportunity areas or areas of opportunity Opportunity zones Development grant opportunities Those are some of the search terms I use when identifying the areas to in which I’ll invest.

Personally I prefer the Height property just based on appearance, it's a nicer property, however, my reservation is its distance from transport and local amenities like grocery stores. 

Was it a patio, carport or garage that was enclosed? 

As long as the rent control isn't based upon CPI averages and other economic factors, I'd say you have a favorable town provided of course there are other aspects, such as ratio of multi family to single family homes, transportation options, etc.