Purchasing a rental property in Charlotte can be a fantastic investment. And in many cases, it can require a minimal amount of work. If you can find an affordable house in a desirable area, there is a good chance you will have a whole stack of potential tenants to choose from. While it is important for the house to be aesthetically pleasing and in good condition, the main factor you should keep in mind is the location. It doesn’t matter how nice the house is – if it is in an inconvenient location or far away from all the action, it can be a lot more difficult to rent the property.
If you are still on the hunt for the perfect rental property to purchase, we want to help you make the best decision. In terms of a smart investment, following are a few of the top neighborhoods you should consider during your home search.
Area Within a Few Miles Outside of Uptown Charlotte
With so many job opportunities and entertainment options in the Uptown Charlotte area, people are always looking to live in and around the heart of Queen City. In the grand scheme of real estate investments, you really cannot go wrong with an investment property that is located just a few miles outside of Uptown Charlotte. Some of the most popular neighborhoods include:
Another great area within Charlotte for a rental property is University City. With the presence of the University of North Carolina at Charlotte (UNCC), there are a lot of potential renters in this area. From students to professors, there are individuals who need to live in the University Area, but they simply cannot make a long-term commitment. Additionally, 28262 zip code saw home prices increase by 16.9% at the end of 2018.
Steele Creek Area
Steele Creek has become the fastest growing community within Charlotte/Mecklenburg County, so this is an area that holds a tremendous amount of potential in terms of investment properties. This area runs along Lake Wylie, from the South Carolina state line to the airport. Since it is in such close proximity to several desirable areas – the lake, airport, and Uptown Charlotte – houses in this area have been a hot commodity for renters. And the numbers don’t lie. The home values in Steele Creek increased by 15.3% at the end of 2018.
Interested in investing in Charlotte real estate? Then contact one of our investment consultants today!