When looking at a single family or multifamily real estate investment, it is important to know the surrounding neighborhood. Is it a family oriented neighborhood or a retirement area? What is the average rent in this area? Or are there even renters in the area? You can of course research this before you leave you computer if you know where you are heading but wouldn’t it be nice to have this at your fingers when you stumble across an investment property treasure?
Slipping into “infomercial” mode – “well now you can!”. Sitegeist is a free app on both Android and iPad phones. I downloaded this application several weeks ago and I use it almost daily. You can move the locator on the map to any property in the area and it automatically gives you neighborhood specific facts. These include:
- The median age of the residents as well as the relative age distribution by sex
- The number of households with children under age 5
- Household Incomes
- Gender percentage breakdown
- Political contribution amounts (I have not found this useful yet)
- The median home value and median age of the homes
- The number of housing units
- The average monthly rental amount plus the estimated number of rental households
- How people commute (Car, Bus, Bicycle or walk)
“Infomercial mode” – But if this is not enough, there’s more!
- Average high and low temperatures
- Record high and low temperatures
- Recommended (by Yelp) restaurants, places of interest and movie theaters in the neighborhood
I use this app daily, sometimes just for fun. But, this is a great tool for exploring the neighborhoods. Sitegeist also makes you the “Neighborhood Expert”. Download it today and check your area.
Broker/Owner, Investment Property Consultant
Real Estate Solutions of SWFL, LLC