Home Buying in Arizona>Question Details

RJ, Home Owner in Gilbert, AZ

Which is better in term of return of investment if I want to rent it out, buying a single house or townhouse in Gilbert/Chandler area (AZ)?

Asked by RJ, Gilbert, AZ Tue Dec 18, 2012

Help the community by answering this question:

Answers

5
BEST ANSWER
My personal opinion is Single Family properties. SF properties always move quicker because they are typically more desirable from the majority of buyers that would eventually purchase the property.

Try this link:
http://armls.com/statistics/rent-check

For sale in the MLS
Townhouse, Condos, Patio Homes available in MLS as of today = 2,480
Single family properties = 13,964

For rent in the MLS
Townhouse, Condos, Patio Homes available in MLS as of today = 1,913
Single family properties = 5,698
1 vote Thank Flag Link Wed Dec 26, 2012
Thank you for the helpful information! What would you think if the property is in Mesa? I heard many people saying Gilbert and Chandler are more desireable?
Flag Wed Dec 26, 2012
Dear Mandy:

Townhouses will have HOA fees that go up over time. HOA fees are typically paid by the Landlord, so this will cut into your return on investment. If you purchase a home at the right price and without a HOA this may be a better investment. It all depends on the price you are paying for a townhome and the neighborhood/community rental prices. Your Realtor can help you with these comparables.

Jeffrey Masich, GRI, MBA
HomeSmart Realty
http://ArizonaHomesLand.com
JeffMasich@ArizonaHomesLand.com
0 votes Thank Flag Link Wed Dec 19, 2012
Hi Mandy,
Townhouse will probably be better in terms of return of investment if the price of the townhouse is like half the price of the single family home now, and you can rent the townhouse to close the amount of the single family home. If on the other hand your ultimate goal is to eventually sell the property, the single family home may be a better choice on the long run.
Grace Adewumi
602-769-0890
gracea@realtyoneaz.com
http://www.house2buyorsell.com
0 votes Thank Flag Link Tue Dec 18, 2012
What are your goals? Are you looking for long term appreciation or short term cash flows (immediate income)? What is your price range? There are many homes that fall into the general criteria that you have outlined in your question and more specific details will help in making recommendations to you.
0 votes Thank Flag Link Tue Dec 18, 2012
For sure I am looking for both. I might want to sell it after keeping it for 5-10 years. My price range is between 90 - 110K for townhouse. I am thinking to rent out the property. Newer single house also has HOA. So I'd say HOA seems like unavoidable.
Flag Tue Dec 18, 2012
Mandy,
The return depends on several factors. When you are saying single family or townhouse, do you mean that you will have to pay HOA for the townhouse, as opposed to no HOA for a single family.
Either one can be profitable, depending on the variables involved.
Please give me a call for a more in depth analysis.
Best regards,
Steffy

Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353 Fax: (602) 507-3703
3131 E. Camelback Rd. #125
Phoenix AZ 85016
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Tue Dec 18, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Home > Arizona > Home Buying in Arizona > Question
Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer