Home Buying in 22904>Question Details

Cheryl, Home Buyer in Charlottesville, VA

I live1.5 hours away from Charlottesville, and I want to make an investment buyinga property there and then rent it. What area should I start looking?

Asked by Cheryl, Charlottesville, VA Thu Apr 26, 2012

is it a good time to invest in Charlottesville real estate?

Help the community by answering this question:

Answers

20
He probably figured it out as the question is two years old.
1 vote Thank Flag Link Wed Jul 16, 2014
I would look for a property close to the University.
1 vote Thank Flag Link Fri Jul 20, 2012
Concentrate on Fry's Spring, Rugy/Barracks and the downtown area. Depending on what type of tennant you want, being fairly close to the university is always a plus, but for those who are not students, being close to the downtown mall, or another village-like center is key. For university students, it's usually better to be within walking, biking, or a quick free-trolley ride. I'm not a broker, just a UVA grad and recent renter looking to buy - but for me to occupy. Best of luck.
Flag Sat Jul 21, 2012
I have a list of 91 currently rented properties in the area that I can guarantee rental income, turnover costs, warranty work, and property management. Call me at 540 487 0480 to discuss!
Jeremy Vogan
Countryside HomeCrafters, LC
0 votes Thank Flag Link Wed Jul 16, 2014
Hi Cheryl

I have a property in a great location and price range. If it's not what you're looking for we can take a look at other options. Please give me a call.
0 votes Thank Flag Link Thu Apr 4, 2013
Hello Cheryl,
There are several areas around town that could be a possibility for you. It really depends on the price range --also the type of tenants you might be looking for. If you are thinking UVA Students ---then you would want to get as close to UVA as possible. Also depending if you want under grads or grads that also changes the mix a little bit. If you are thinking renting to a couple, family etc then you can consider in the city or also in the county. Do you have an advocate working for you in Charlottesville? If not, I have been a Realtor since 1980 and am very familiar with the market.

Cheers,

Cynhia Viejo


Nest Realty Group
126 Garrett Street, Suite E
Charlottesville VA 22902
cynthia@cynthiaviejo.com
434-981-2419
Earned Designations: Associate Broker, CRS, ABR, GRI, SRES, SFR
Licensed to sell Real Estate in Virginia I have been a Realtor here in the Charlottesville Area since 1980 and am very familiar with the market.
0 votes Thank Flag Link Thu Apr 4, 2013
Charlottesville, ALbemarle, Greene, Nelson all rent well. But the best rentals are the closer to town properties, and multi unit properties. Its an excellent time to buy and invest. With low rates, and the University housing needs as well as young professionals, there is a need for rentals in our area. I have several searches I am pulling, and within a few weeks or less, many of them are going under contract.
It depends on how much you want to spend, and if you want a townhome, single family residence or farm like situation.... For example, a variety of properties are available at the moment for a great price close to downtown.... You have to be prepared to jump in when they come on the market...
0 votes Thank Flag Link Tue Feb 5, 2013
I just listed a property that has two homes on 3.53 acres and they are both rented. If you are interested let me know!
0 votes Thank Flag Link Mon Feb 4, 2013
There are several homes and townhomes to choose from. I work with investors often. Give me a call, check my profile. IF you prefer a property with less maintenance, I am sure you won't be disappointed. I'd be happy to give you an online tour.
0 votes Thank Flag Link Tue Jul 31, 2012
There are several homes and townhomes to choose from. I work with investors often. Give me a call, check my profile. IF you prefer a property with less maintenance, I am sure you won't be disappointed. I'd be happy to give you an online tour.
0 votes Thank Flag Link Tue Jul 31, 2012
Sorry... Misspelled the website link..... http://www.eagleslandingva.com
0 votes Thank Flag Link Mon Jun 11, 2012
I have the perfect property for you with no realtor commissions either! My wife and I own a 2br/2Ba condo in Eagles Landing. http://www.eagleslandindva.com There is a free shuttle to UVA and barracks rd shopping center for your tenants.

There is on site property management and there is not a single vacant 2br unit currently available. They stay rented at $1100/month. And your purchase price will be well below 100K. Property taxes already paid in full through 2013.

You would also already have a tenant in place upon closing while we rent it back from you and take our time finding the perfect home here in cville! This is phenomenal opportunity for whoever snatches it up. Any interested parties can call me for even more information at 434-987-9010.

David
0 votes Thank Flag Link Mon Jun 11, 2012
There are great investment opportunties near the university that are great for UVA medical residents, traveling nurses, professors, grad school students etc. There are also some terrific investment opportunities north of Charlottesville near the NGIC/DIA campuses as these are some of the largest employers in the area. I respresent a builder who has new construction, energy efficient townhomes that are renting for $1500 to $1600 a month and are priced from $220k to $285K. Happy to work with you on this!
Kristin Streed
434-409-5619
kcstreed@loringwoodriff.com
0 votes Thank Flag Link Thu Apr 26, 2012
Hello Cheryl,

Yes, definitely. Interest rates are low and it's a buyers market, but this won't last. I would look for properties in close proximity to the University of Virginia or Martha Jefferson Hospital. There are several townhomes or condominiums available and may offer easier maintenance than a single family home. I would be happy to help you with your search. Please feel free to contact me any time.
0 votes Thank Flag Link Thu Apr 26, 2012
Talk to Wallace (below) for Rental Prices.
For trends visit: http://www.charlottesvillerealestatesolutions.com/market-reports/

Best of luck to you
0 votes Thank Flag Link Thu Apr 26, 2012
Can anyone give me an idea of the housing price v.s. the potential rental income?
For example,
how much I can rent for a $200,000 house in the city of Charlottesville, north eastern Albemarle and eastern Greene County areas?
Also, where can I find the housing price trend in these areas?
Thanks.
0 votes Thank Flag Link Thu Apr 26, 2012
Rental prices have been strong in Greene. I would be glad to send you sample listings if you contact me with your e-mail. Our investment properties are mostly in Charlottesville, but we manage properties in Greene where the return on investment can be higher if you choose carefully. Taxes, etc. are also lower in Greene.
Flag Thu Apr 26, 2012
Sure Give me a call 434-535-2289 or visit http://www.Hegarty-Peery.com
Flag Thu Apr 26, 2012
I agree, it is a great time to invest. I am going to suggest the Zion Crossroads and Lake Monticello area. It is growing and there are frequent requests for rentals. Feel free to call or email me anytime to talk about it. 434-760-1882 mycville@yahoo.com
0 votes Thank Flag Link Thu Apr 26, 2012
As an investor you should work out the financing, payments, expenses and potential rental income. If the numbers work you will have a price-point to work with.
Because you are so far away, you would be well advised to consider using a property manage too.

Then you can start your search here:
http://www.charlottesvillerealestatesolutions.com/buyers/

Best of luck
0 votes Thank Flag Link Thu Apr 26, 2012
Check out the Ryan Homes townhouses across from NGIC or their townhouses at Pantops. Rental demand in those areas are very high BECAUSE they are close to employers who are hiring AND in good school districts.

LandlordWhisperer
0 votes Thank Flag Link Thu Apr 26, 2012
Hi there it is a fantastic time to invest. Please call us and we can assist you with all of your real estate needs. There are several factors you will need to consider. My husband Rob Peery and I have both been in Charlottesville for over 40 years and know that area well. As real estate investors ourselves we are well versed in the ins and outs of the strategies and the process. Give a call 434-535-2289 Thanks so much.
0 votes Thank Flag Link Thu Apr 26, 2012
Cheryl,

I would suggest looking at the north eastern Albemarle and eastern Greene County areas. We has seen an increased need for rentals there due to the expansion of both the DIA and NGIC. Although most of our rentals are still based roughly on the school year calendar, we have seen that change a bit over the past two years. Depending on the type of property which you would like to purchase, you can also consider buying and marketing to either students or UVa Hospital employees if you want to focus on the city of Charlottesville. Please feel free to contact me if you would like more information.
0 votes Thank Flag Link Thu Apr 26, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer