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Bronx for a single family house

Started by talhasaleem1990_1939671
over 9 years ago
Posts: 0
Member since: Apr 2016
Discussion about
Hi, I am a first time home buyer looking for a place in Bronx (priced out of Brooklyn and Queens). I seem to really like the area around the Grand Concourse (167 Street), but am afraid of the crime rate in the Bronx in general. My ideal place would be short commute to the city, and a low crime area. I was wondering if you guys have any clue if this should be a good neighborhood to move in, and also a place where my investment in the home pays off in the long term. I am single and looking for a 2bed place, so i will most likely be renting out the other bedroom to help pay off the mortgage. Thanks
Response by showitthefro
over 9 years ago
Posts: 58
Member since: Oct 2015

Check this out from 2010....
https://www.dnainfo.com/new-york/crime-safety-report/bronx/morris-heights
Bushwick and Bed-Stuy were once rated worse for safety so take what you like from that.

Also this just happened...
http://www.washingtontimes.com/news/2016/apr/27/new-york-police-arrest-about-100-suspects-during-m/
which i think shows some serious improvements underfoot

And the sales figures mean you aren't alone.
http://therealdeal.com/2016/04/27/outer-borough-bonanza-bronx-and-staten-island-home-sales-spike-35/

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Response by 30yrs_RE_20_in_REO
over 9 years ago
Posts: 9876
Member since: Mar 2009

There is an agent in my office who speializes and live in that area. I'm sure he would be willing to talk to you about the issues:

Matthew bank
DG Neary Realty
http://streeteasy.com/profile/824406-matthew-bank

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Response by showitthefro
over 9 years ago
Posts: 58
Member since: Oct 2015

I just moved up to 176th on the concourse and have felt safe albeit appearing like an obvious gentrifier. There may also be rezoning along nearby jerome avenue that will change things even further. I decided to get in early before the prices rise. They are still some finds at pre-boom prices but not for long...The Furman center has interesting reading on gentrification: http://furmancenter.org/files/sotc/NYUFurmanCenter_SOCin2015_9JUNE2016.pdf and on housing appreciation: http://furmancenter.org/files/Q12015_9_3_A.pdf

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Response by manhatta
over 7 years ago
Posts: 41
Member since: Nov 2013

If you can purchase a property between Jerome Avenue and the Grand Concourse, that would be ideal from an investment perspective. The broader catchment area would be between University Avenue and Webster Avenue. I would be concerned less with the particular number street and more with the specifics of the property itself: Is it a tree lined block? Is it proximate to parkland? What is the condition of the interior? Does it have original details? Does the property have violations? Does the property include parking? Etc.

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