Having said that, two-story homes are typically bigger (more sqft) than single-story homes and they allow for a smaller home footprint -> bigger yard.
Single level homes are typically more expensive per sqft than two-story homes. I am selling a community in Avondale where the single story homes are around $90/sqft, while the two-story homes are below $70/sqft.
Now to answer your questions:
1. "Is two stories property harder to rent out?" - Everything else being equal, it is typically easier to rent a single-level home. More people looking for single levels exclusively than two-levels exclusively.
2. "How about the rental price" - because they are more sought after, single levels will typically rent for slightly more than two-levels. However, each neighborhood is different. Ask to see comps for single level and two level homes. They will give you a pretty good idea about rental prices.
3. "and property appreciation?" - that is an interesting question. I haven't seen any analysis on appreciation differences between single and two story homes. My gut tells me that they should be comparable. But I can't back it up with hard data. Sorry!
Bottom line: as long as you buy right, you can make money with both single level or two story homes.
Jose Dias, REALTOR
email: jose at MyFirstHouseAZ.com
Our Property Management expertise helps define the best properties to purchase and separate the apples from the oranges.
With that said - rentals in Gilbert are in high demand. I have rented out several properties this year and all had accepted tenants within 1-2 weeks from going on the market.
I would be happy to provide a free market analysis for you as well as give you an idea of single story versus two story historical trends. Just send me an email with the property address or subdivision you are thinking about. My email is firstname.lastname@example.org
Miu Miu, if you haven't already, you may want to get with an agent who can help you with all of your questions rather than sending them up to the peanut gallery, particularly if you're looking for something for investment as it seems.
Upper units are also viewed as more safe than ground level units. Break end usually occur on ground level unit more so than upper level units.
Kawain Payne, Realtor