Market Conditions in VCU>Question Details

Ingrid, Home Buyer in Sterling, VA

Are townhouses/duplexes in the VCU area a good investment? Is there anything in the 200-250K price range?

Asked by Ingrid, Sterling, VA Sun Apr 6, 2008

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Yes, there are an abundance of Townhouses/duplexes near VCU, many falling into that price range. As far a good investment, that obviously depends on the property and location; but more importantly your need for the property (kid at VCU, tax exchange,etc.), your financial resources for the purchase (money for down payment) and your willingness and ability to manage and maintain the property. Other factors to look for is if the property has a tax abatement with the City of Richmond or if you are planning a renovation, the ability to qualify for State and Federal tax credits. Many of our clients have done well with these properties as rentals and investments. Some other investors hit bumps along the road including allowing their children to "trash" the property or having a child fail out. Use caution with the market slow down and choose wisely. One, thing that is for sure is VCU is here to stay and its growth has been phenomenal. George Cumming, Agent RE/MAX Commonwealth
0 votes Thank Flag Link Fri Apr 11, 2008
In that price range, you may have to rehab a property to get it ready for rental.

I work with several contractors and investors in that area if you need help.

Wayne
Web Reference: http://AHomeInRichmond.com
0 votes Thank Flag Link Mon Apr 7, 2008
Yes, townhouse, Condo and duplexes are good investment.
Yes, you can find properties in the 200-250K price range.
0 votes Thank Flag Link Mon Apr 7, 2008
Yes, townhouse, Condo and duplexes are good investment.
Yes, you can find properties in the 200-250K price range.
0 votes Thank Flag Link Mon Apr 7, 2008
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