Sacramento Great Rental Market-Pricing your Rental Right!
August 6th, 2010 categories: Real Estate news
Rentals are big in our market, and buying and holding is a great strategy, as now Sacramento has turned into a cash cow! Duplexes and homes up to $150,000 are great cashflow opportunities. I have a totally remodeled home on 2008 Robert Way, Sacramento, 95825 for only $154,900, which is 1,600 sq ft. This would bring app. $1,500 in rent a month, and the mortgage and expenses would be around $1,000 depending on the downpayment, so $500 cashflow a month is not too shabby. Here’s the website and virtual tour link for the house: http://2008robertway.epropertysites.com.
According to The Wall Street Journal’s real estate columnist June Fletcher suggests 1.1 percent of the home’s value up to about $100,000 or about $1,100 a month. After that demand and what the market will bear will affect values.
She points to rental sites as a good clue for someone setting prices, particularly VRBO.com, Flipkey.com and Craigslist. She also recommends Rentometer.com, which compares proposed rent with comparable rentals nearby.
For help calculating return on investment, try Rentalsonline.com.
Source: The Wall Street Journal, June Fletcher (07/29/2010)
For more information on Sacramento real estate, please contact Carmen at 916-342-2446 916-342-2446 916-342-2446 916-342-2446 , or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.Dynamicsacramentohomes.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
