Cash flow calculations on paper rarely match reality as you move into more questionable areas unless you are intimately experienced in those neighborhoods.
Actually, the areas in my question aren’t particularly questionable. Boring with smallish condos, maybe; but that’s OK.
As far as questionable areas, find one that borders a non-questionable area. One NJ town that I’m interested in has an area that’s considered less desirable, but borders on two fairly tony towns. You can walk to the train stations (fast train to NYC) and downtowns in either of those two towns in 10 min. Whole Foods within walking distance, the whole 9.
And taxes are about 50-60% lower than in either of the two “nice” towns. Assuming a decently kept property, it’s actually fairly easy to rent to single younger professionals who don’t care about school quality.
