Location Scorespop up on the left-hand side of your screen showing the scores for that location. Scroll down to see them all. Hold your mouse pointer over any score to see a brief explanation of what it means.
Neighborhood Change, which is a composite of indicators changing over time that define whether an area is getting better or worse.
Census. For everything else, the metrics are created by combining different data sources from professional data vendors and applying spatial processing. We translate everything into a 1-10 scale that makes it easy to compare, where the 1-10 scale represents the maximum and minimum for the metro area. We compress three months of research and data processing for you into just three minutes. Furthermore, the data are updated regularly so that the map reflects the latest conditions.
Riskfactors, change more slowly and tend to change on an annual basis.
Performance, these are things you want “more” of, so 1 means “worst” in in the metro area and 10 means the “best.” For
Supply, these are things you want less of, so a 1 means “best” and 10 means “worst.” In all cases, green is good and red is bad.
Location Scoresfor that city block appear on the left-hand side of the screen, if the address corresponds to a residential block.
Favoritesand then run a report using the
Reportbutton on the toolbar and choosing
Saved Opportunities.You could alternatively just include anything on the screen by choosing the
Search Barat the top of the screen to type in the city or ZIP code, and the map will jump to the center of that city or ZIP.
Filters, you can eliminate blocks that are not acceptable, without having to exclude (or include) entire cities.
Opportunitieslist, and the map will fly in to that spot. If this does not work, click on
Reset All Filters.
Short-term Investmentmode in LocateAlpha is for flipping a house. In this mode, your
Overall Scoreis weighted heavily on appreciation. Areas that are appreciating quickly are going to get a higher score because you are likely to want to ride the wave of an improving neighborhood. It is also thought of as an 'active' investor strategy where you buy and sell houses for capital gain but you do not want to hold those long-term and rent them out.
Long-term Investmentmode is for buying and holding a property for several years and renting it out. This includes the BRRR (buy-rehab-rent-refinance) strategy. In this mode, your
Overall Scoreis weighted heavily on things like
Cap Rate, to maximize your odds of getting cashflow.
Main Residencemode is for buying a house to live in. In this mode, financial performance is ignored. The overall score is weighted heavily on
GreatSchoolsScores and low
Net Operating Incomewill automatically refresh to show the effect of that offer price on your financial projection.
Reset to default estimatesif you want to start over at any time.
Insurance-- we include the “hidden” costs such as
Listing Fees, all of which are usually skipped in other calculators to make the financial returns (profits) look higher! In fact, we take what’s almost a “worst case” scenario, because if the numbers "work" at the worst case, you’re golden. Don’t be caught by surprise.
Yearly Expensesto reflect all of the expenses you may encounter, including "hidden expenses".
Capital Expenditure, and more. Most calculators do not include this many expenses and will inevitably show a higher cap rate than reality. You can exclude any of these expenses manually by dragging the slider down to zero and the
Net Operating Incomewill adjust on the fly, or adjust them as you like.
Economic Distresand a strong
Jobs-Currentemployment base) why not do it? Simialrly, if all available opportunities are in tough locations, you may want to pass on those to avoid taking on more than you're ready to deal with.
Demandcategory items and low
Supplyshould indicate a strong rental market, maximizing your odds of success.
Reportfeature to compare specific house you have a) either on the screen, or b) saved in your
Favorites. The report will show every metric and financial estimate covered in LocateAlpha, with one house per column. Currently comparison reports are designed to compare houses rather than areas.