I'm looking to buy investment rental property in Durham. What are some of the best rental neighborhoods right now?

Asked by Karen, Bowie, MD Tue Sep 6, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Vivian Olkin, Agent, Carrboro, NC
Tue Sep 6, 2011
Durham has a variety of excellent neighborhoods for rentals. They vary in term of stability, cash flow, updates needed. Sometimes those with less stability offer greater cash flow. I have some rentals in Durham, Chapel Hill and Carrboro with a variety of tenants, ranging from Section 8 to grad students to families.

In general, the better the neighborhood, the more costly the purchase and it doesn't mean that you'll get so much more in rent. There are trade-offs with every decision. Just as buying a house for yourself, location is one of the most important decisions. Same is true for rentals. If you want an updated bathroom and kitchen, so do tenants and you'll tend to keep them longer. Are you planning to manage yourself or are will you use a property mgt company? I used a property mgt company to begin with, then took over when they didn't keep things up to my standards. Now I like managing my properties, knowing the tenants, really knowing my properties.

If you live in MD and are staying there, why not look for rental property close to where you live? Whatever you decide to do, I wish you happy hunting and enjoy the process.
Web Reference:  http://www.CrazyVivHomes.com
1 vote
Sharon Lewis, Agent, Garner, NC
Thu Oct 20, 2011
I recently read a very interesting article in one of the major newspapers recently, about how the housing market in and around top universities was not nor had been as adversely affected by the shifting market and in some cases, not being affected at all. The article made a lot of sense. It said students had to live somewhere near campus. I would say that investing in and around well known universities would be a good choice,like a few before me have suggested, look around Duke, UNC. I have sold to college students in Durham and UNC, who know they are going to be in this area for at least 4 years, they can buy an inexpensive home, carry it for less than rent.
0 votes
Michael Colv…, Agent,
Tue Sep 6, 2011
Hello Karen
I am from the DC Area as well and moved here 10 years ago. It is a great rental city due to the universities.
I would focus on the areas around Duke and or NCCU.
Let me know if you would like for me to send you some properties.
Michael
0 votes
Hi. Please send me some properties and what's the monthly rent?
Flag Sun Feb 26, 2017
My NC Homes…, Agent, Chapel Hill, NC
Tue Sep 6, 2011
Karen,

The areas you want to focus on are going to be near either NCCU or Duke universities. They are very different areas and you'll want to explore each and have an in depth conversation with whatever Realtor you decide to work with to understand the pros and cons of each.Both Vivian and Lynn have alsogiven you some good advice.

I reguarly work with investors like yourself and regardless of your specific objectives it all comes donw to numbers when you're looking at investment property.

If i can be of any assistance to you, feel free to contact me directly through my profile link here on Trulia or through my website.

Durham is a great city, I live close to Duke myself and regardless of what you ultimately decide I wish you the best of luck.
0 votes
Ashraf Mehdi, Other Pro,
Tue Sep 6, 2011
Durham is a really good place to start your investments. I have some rental properties close to the NCCU area. For the price I think they are generating great cash flow. I am also planning to sell some of the rentals. Let me know if you would like to know about them.
0 votes
Lynn Hayes, Agent, Carrboro, NC
Tue Sep 6, 2011
I have rental properties in Durham - it's a terrific place for rentals because the homes are affordable and the cash flow is good. My favorite neighborhoods for rentals are Northgate Park, Lakewood, certain areas of Walltown near Duke East Campus, Old West Durham. Let me know if you'd like me to send you some listings.
Web Reference:  http://www.lynnhayes.com
0 votes
Thanks for information. Can you please send me some listings. Thanks.
Flag Sun Feb 26, 2017
Search Advice
Search
Ask our community a question

Email me when…

Learn more