Currently there is a property in the 22304 zip code for sale with an asking price of $249,900 the Property next to it is for rent for$1895.00 a month. The question you should ask your mortgage lender is could I have bought the one for 249,900 and paid less than 1895.00 a month in mortgage and other ownership costs.
Hope that helps.
The rental market..though pretty strong..is full of under-qualified applicants. The days of putting a post in the ground and picking your creampuff tenant from a host of qualified credit worthy applicants is over. Many applicants have poor credit and creativity with these applicants is key.
Best of luck to you and if you would like assistance..
Erik J. Weisskopf, ABR,CDPE,CRS,GRI
There are currently over 30 rental properties in Centreville area, more if you include Chantilly area.
You can use the MAP search to find Residential Rentals on my web site to learn about the rental market:
Let me know if you need any assistance.
The entire Northern Va area has been strong in rentals for years. This is driven by the need for military housing, the general transient nature of the Metro area, and fact that the administration turns over at least once every 8 years.
We work with investors to find the best fit for their portfolio. Although the rental market is very good in Centreville, you need to match the market with what you are trying to accomplish from an ROI and cash flow target.
Call us if you need assistance.