This week were continuing to take a glance at some popular & profitable rental markets in the Mid-Hudson Valley, New York and more specifically, Ulster County.
If you missed last week's blog, we covered Dutchess County, NY.
We at Integrity Property Management continue to see a growing number of successful real estate investors in this region. Ulster County runs along the West banks of the Hudson River containing old, history-rich towns with a mix of housing types.
Kingston, NY is by far the most popular city for real estate investment. It's another large city similar to Poughkeepsie (mentioned last week), but adding a touch more rural. Kingston has proven itself to be another winner in terms of investing in single, multi-family and even commercial storefronts. Our clients vacancies here are extremely short and the renters seem to be some of the best. Kingston is an old city with lots of pretty homes and buildings but also developing it's own niche' of an artsy style. Current property values are high but with our quality tenant screening, in-house/contracted vendors, legal pro's and support staff, nearly 100% of our Kingston property management clients see a healthy profit month after month.
New Paltz, NY has become a hot spot. The main attraction of New Paltz started as the location for a NY SUNY University, SUNY New Paltz. This has created another artsy type town with lots of great restaurants and a neat village feel. New Paltz isn't that big but we manage more then a handful of properties here and with proper management, overall see great ROI's. If you're interested in student housing, New Paltz might be a great place to look!
Highland, NY is not a large, overgrown city. The village area has wonderful little restaurants and storefronts all in walking distance. What really puts Highland on the map is the proximity to major highways systems including the NYS Thruway. Real estate prices here seem to be fair and consistent. The average renter has quality employment and generally are great clientele. The properties we manage here have been simple but quality investments.
Ulster county is a large area that is mostly rural. Integrity manages properties in many more wonderful cities and suburbs like Saugerties, Lake Katrine, Woodstock, Wallkill, & Ellenville but aren't described above due to their low rental volumes. These areas and others not listed aren't ideal for an investor not familiar with the specific locations. The smaller towns can have odd rental prices and often limited access to handyman and professional vendors.
No matter where you buy, own or aquire real estate in Ulster County, Integrity Property Management has the knowledge, history, resources, staff and partners to successfully make your investement sucessfull and profitable!