Hi Athletic, have you bught yet or still waiting? Interest rates are very low, prices are very reasonable. Time to make that move.

Hello
Athletic,,That's a pretty reasonable assumption but in today's market it isn't money in the bank.There are a lot of homes for rent on the curent market and rents have been dropping as a result.A $1600 rent would be safer in today's market.
If you would like a more detailed assessment either ask your realtor or contact a member of our team.
Regards
The Hughes/Kenney Team
Roger Kenney

Based on historical data, getting more than $0.60 per sq ft in Cary is very much in line. How soon you can find a 'good' tenant depends on the exact location and current school assignments. I help my buyers and buyer -landlords. Will be glad to help with more details.

It all depends. Buying an investment is a totally different ball game. First of all, the numbers have to make sense. The next are the location of a property, the type of property you buy, and who would be your target tenants. In general, our area is a very transient. People consistently moving in and out at all time due to our job market. It also become #1 city for retirees. I would suggest you to work with an experienced agent who knows not only the buying the market, but also the rental market. She/he can analyze the sales data and share the market knowledge with you so you can make an educated buying decision. I'm very active in both markets and have been in rental market for many years. I'd be glad to offer you a buyer consultation session at a free of charge.

Thanks,

Hi Athletic,

The price point is feasible in the Cary market especially if your on the Western side where the schools are some of the best in the area. It's best to know what's currently renting in and around your subdivision so you get an idea of what you may be competing with when you decide to rent it out.
Currently in the MLS Cary has 28 homes available for rent w/ at least 2400 sq. ft, 4 bedrooms 2.5 baths in the range of`$1500-$2000.

Regards,
Lizete

Here is a snapshot of rentals between $1600 and $2000 in Cary.
From Craigslist:
http://raleigh.craigslist.org/search/apa?query=cary&minA…

So, you would have competition, but it can be done.
You may be able to compare the features of the home you have in mind with the homes in the ad and get an idea of the possible rental income.

Good Luck!

Hi
I agree with the previous post, easily rented is subjective, however the price range is within reason. I would be happy to look at more numbers if you provide me with the address of the home in question, if you use a buyers agent , they may be able to negotiate a better price on the home as well.
Michael

It is possible. Although many rentals aren't listed in the MLS, I see several homes rented in the past six months that meet or exceed your criteria (keeping in mind that backyard space and "easily rented" are subjective). I'd be happy to discuss with you if you are interested in analyzing further.

Good luck to you!