Are you considering an investment property or multi-family? If so, read on about why Montclair is a great place to invest.
According to the 2010 Census, 43% of housing units in Montclair are renter occupied by 12,711 people.
In 2014, according to the Garden State MLS: there were 40 two family homes sold with an average sale price of $348K, 7 three family homes sold with an average sale price of $477K, and 6 four family homes sold with an average sale price of $584K in Montclair.
The rental market is very strong with apartments typically renting within a month. According to the Garden State MLS, in 2014: 1 bedroom apartments rented within 31 days at an average rental price of $1375, 2 bedroom apartments rented within 33 days at an average rental price of $1901, 3 bedroom apartments rented within 33 days at an average rental price of $2607, 4 bedroom apartments rented within 36 days at an average rental price of $3796 and 5 bedroom apartments rented within 32 days at an average rental price of $3967 in Montclair.
Renters consider the following in their decision on whether or not to rent an apartment: condition, size, and location, with proximity to transportation and shopping important, and ability to have a pet. Also important are amenities such as parking and laundry.
For more information go to www.urbansuburb.com
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