Thanks Again, Sandy Straley, Broker
Generally areas around the two universities are the best, although it will be hard to find properties in that price range very near them. Try the east part of downtown, between 500 east and 1100 east and maybe 200 south and 900 south might be good options. There could also be some properties in the southern end of Sugarhouse. Also Rose Park has some good rental opportunities as well as around Liberty park.
The problem when you start getting into less desirable areas and cheaper rental rates is that tenants tend to be much harder on the property so you spend a lot more in repairs. Expect 30-40% of your gross income to go to maintenance, taxes, etc. and this can grow with older homes and bad tenants.
I specialize in investment properties and would be happy to help you find what you need.
Scott Andrews, Associate Broker
Coldwell Banker -Salt Lake Sugar House Office
Real Estate Agent