What to Consider Before Buying a Rental Property in Kingston

Kingston’s rental market has been heating up for years, with rising demand from students, military families, and professionals all competing for limited housing. For investors, that makes Kingston an attractive city to buy rental property—but success depends on more than just picking up the first building that comes on the market. Here are the key things to consider before you buy in Kingston. 1. Run the Numbers First In Kingston, the average cap rate for multifamily and apartment buildings generally ranges between 5% and 6% . That means investors need to carefully calculate whether the property’s income justifies its price. Look beyond gross rent: factor in property taxes, insurance, utilities (especially if they’re landlord-paid), and maintenance. Always include a reserve fund for unexpected costs like a roof replacement or furnace upgrade. 2. Financing Matters Mortgage terms can make or break a deal. Rising interest rates have squeezed cash flow for many Kingston investors, so it’s ...