Home Buying in Seattle>Question Details

Venjon_2000, Home Buyer in Chicago, IL

Investment property

Asked by Venjon_2000, Chicago, IL Thu Dec 12, 2013

I would like to purchase an investment property, a condo or a townhouse. I would like to make about $1500 -2,000 per month. What are some neighborhoods that I should target if I want to spend less than 250K?

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4
Is it realistic to receive $1500-2000 per month in rent? Seems like a very high rent amount for a property that is worth $250k or less.
0 votes Thank Flag Link Fri Oct 23, 2015
I would suggest that you look in South Snohomish County. Places like north Bothell, Everett and Lynnwood areas would have some single family homes that would get you $1500-$2000 per month and may be no HOA fees. If you are paying cash then there are some great opportunities with some condos or town homes that would work for you as well. The areas mentioned are in close proximity to Boeing as well as the Navy base in Everett and some high tech companies. If you would be interested in exploring those areas, let me know. I'd be happy to help.
0 votes Thank Flag Link Tue Dec 31, 2013
If you do the math, it will be difficult to clear $1500 to 2,00 per month in rental income on a $250,000 property. By the time you add in Home Owner Fees, insurance, and a possible mortgage payment. Most high end rentals in condo complexes are so because of amenities as well which usually means higher HOA dues. I would also add to the equation the long term return on your investment and the positive re-sale in the future as well.

If you would like to see properties in that price range with the highest possible returns, please feel free to call me or go to this link:

davidabernethy.cbbain.com

Thank you, and I hope this helps get you started in the right direction.

David

David C. Abernethy
Realtor, Broker
Coldwell Banker Bain, Capitol Hill Office

davidabernethy.cbbain.com

206.919.1570 Mobile/Text
206.322.8711 Office

You found your niche, you found your style,
now find the home that reflects it.

Successfully representing Buyers and
Sellers in Seattle's complex Real Estate Market.
0 votes Thank Flag Link Sat Dec 14, 2013
Some of the more popular neighborhoods may be a bit beyond your budget of $250K, but you should find plenty of options in southeast Seattle, parts of West Seattle, and some neighborhoods in North Seattle. One reason to consider southeast Seattle is the light rail, and slightly lower rents. That would help ensure the property is never vacant. Steady cash flow is important to the success of any investment. Just something to consider.
0 votes Thank Flag Link Thu Dec 12, 2013
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