Is this house in an area that is easy to rent out? What would the expected rent be?

Asked by Btiefenthaler, Los Angeles, CA Wed May 13, 2009

Who is the agent for this house?

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This question is about this property: http://www.trulia.com/property/1063517229-1401-Gunter-St-Dur…

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4
Jennifer Bru…, Agent, Durham, NC
Wed Jan 19, 2011
Brenda,

If this house is owned by Self Help, they will not sell it to a buyer who does not intend it to be a primary residence.

Durham is full of great rental opportunities, but Im sorry to say this isnt one of them.
0 votes
Vivian Olkin, Agent, Carrboro, NC
Thu May 14, 2009
I'm very mixed about buying this house to be used as a rental. Self Help Community Development is improving the neighborhood by building new homes and rehabbing old that are worth preserving. Self Help works all over Durham though concentrates in a few areas at a time. Their goal is for owner occupied homes and they try to make them affordable for first time home buyers and lower income folks. It makes sense to buy to live in or to buy one that needs to be renovated.

This doesn't preclude renting them out, but the hope is that you will keep up the condition of the house and have some oversight on what is happening there.

A good website to check for rental prices is zilpy.com. It will give you an idea about going rents. It helps to know the specific areas, even blocks.

I own several rental houses in Durham in transitional areas. I'd be happy to discuss the pros and cons of renting in these areas.

Vivian Olkin
Vivian@InsideScoopOnRealEstate.com
919-624-5479
0 votes
, ,
Thu May 14, 2009
Brenda,
Although this property is located close to Duke, it is not a neighborhood that is popular with Duke affiliated renters. I recommend buying a property that is located in one of the popular communities such as Woodcroft, Hope Valley Farms, Woodlake or Five Oaks. These communities are located halfway between Duke and UNC so it offers a larger pool of renters and or buyers. Homes in these areas bring a higher rental income and have shown history of good resale.
0 votes
Erica McClen…, , Raleigh, NC
Wed May 13, 2009
Personally, I'd say there are other homes nearby for less money that would rent for the same. Are you open to Section 8 rental?
0 votes
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