What are the top 5 zip codes in Raleigh, NC for residential?
Investor · United States · Member since 2021 · 55 posts · 11 votes
What are the top 5 zip codes in Raleigh, NC for residential?
Most Popular Reply
Real Estate Agent · Raleigh · Member since 2021 · 55 posts · 35 votes
4yQuote from @Account Closed:
Quote from :
The highest gross rents will come from the most expensive neighborhoods. Link.
If you are more interested in the highest cash flowing neighborhoods, as of May/June '22 you will be hard-pressed to find (LTR) cash flowing properties in the Triangle after subtracting maintenance, cap-x, vacancy, and PM services.
If you are interested in speculating market appreciation in the Triangle, S. Durham, Cary, Apex, and Holly Springs are safe bets but of course, I'm speculating. Wake Cty has very low property tax, Durham Cty slightly higher and Chapel Hill (one of the most beautiful cities) located in several counties has the highest property tax.
To your question about turnover/vacancies that will be a function of the quality of the PM that you hire.
Another city to keep your eye on now that they have begun construction is Pittsboro. Specifically, Chatham Park. They are at the beginning stages of a 22K home build-out. They optimistically reference this city as turning the 3 legs of the 'Triangle' into the 4th leg, expanding the in-demand cities in Central NC.
@Chris London Thanks for letting me know that Chris. I'm more interested in the Class A cash flowing neighborhoods - not much at all on market appreciation. Do you have 5 zip codes that you would recommend for 2/1s, 3/2s SFH that are newer construction?
To save you time, I'm not sure that Class A cash flowing neighborhoods exist in Raleigh, NC unless you can find a needle in a haystack... and if you can please let me know:)
In the A class areas around here you're looking at $600k+ homes that rent out for $3,500 if you're lucky. I don't view Raleigh as the best rental market for the time being. Agree with Chris that looking out towards Pittsboro and West of Durham could be a good idea. Good luck!
4 Replies
- Property Manager · Raleigh/Durham NC · Member since 2015 · 210 posts · 293 votes4y
@Account Closed
The highest gross rents will come from the most expensive neighborhoods. Link.
If you are more interested in the highest cash flowing neighborhoods, as of May/June '22 you will be hard-pressed to find (LTR) cash flowing properties in the Triangle after subtracting maintenance, cap-x, vacancy, and PM services.
If you are interested in speculating market appreciation in the Triangle, S. Durham, Cary, Apex, and Holly Springs are safe bets but of course, I'm speculating. Wake Cty has very low property tax, Durham Cty slightly higher and Chapel Hill (one of the most beautiful cities) located in several counties has the highest property tax.
To your question about turnover/vacancies that will be a function of the quality of the PM that you hire.
Another city to keep your eye on now that they have begun construction is Pittsboro. Specifically, Chatham Park. They are at the beginning stages of a 22K home build-out. They optimistically reference this city as turning the 3 legs of the 'Triangle' into the 4th leg, expanding the in-demand cities in Central NC.
- Investor · United States · Member since 2021 · 55 posts · 11 votes4y
Quote from :
The highest gross rents will come from the most expensive neighborhoods. Link.
If you are more interested in the highest cash flowing neighborhoods, as of May/June '22 you will be hard-pressed to find (LTR) cash flowing properties in the Triangle after subtracting maintenance, cap-x, vacancy, and PM services.
If you are interested in speculating market appreciation in the Triangle, S. Durham, Cary, Apex, and Holly Springs are safe bets but of course, I'm speculating. Wake Cty has very low property tax, Durham Cty slightly higher and Chapel Hill (one of the most beautiful cities) located in several counties has the highest property tax.
To your question about turnover/vacancies that will be a function of the quality of the PM that you hire.
Another city to keep your eye on now that they have begun construction is Pittsboro. Specifically, Chatham Park. They are at the beginning stages of a 22K home build-out. They optimistically reference this city as turning the 3 legs of the 'Triangle' into the 4th leg, expanding the in-demand cities in Central NC.
@Chris London Thanks for letting me know that Chris. I'm more interested in the Class A cash flowing neighborhoods - not much at all on market appreciation. Do you have 5 zip codes that you would recommend for 2/1s, 3/2s SFH that are newer construction?
- Real Estate Agent · Raleigh · Member since 2021 · 55 posts · 35 votes4y
Quote from @Account Closed:
Quote from :
The highest gross rents will come from the most expensive neighborhoods. Link.
If you are more interested in the highest cash flowing neighborhoods, as of May/June '22 you will be hard-pressed to find (LTR) cash flowing properties in the Triangle after subtracting maintenance, cap-x, vacancy, and PM services.
If you are interested in speculating market appreciation in the Triangle, S. Durham, Cary, Apex, and Holly Springs are safe bets but of course, I'm speculating. Wake Cty has very low property tax, Durham Cty slightly higher and Chapel Hill (one of the most beautiful cities) located in several counties has the highest property tax.
To your question about turnover/vacancies that will be a function of the quality of the PM that you hire.
Another city to keep your eye on now that they have begun construction is Pittsboro. Specifically, Chatham Park. They are at the beginning stages of a 22K home build-out. They optimistically reference this city as turning the 3 legs of the 'Triangle' into the 4th leg, expanding the in-demand cities in Central NC.
@Chris London Thanks for letting me know that Chris. I'm more interested in the Class A cash flowing neighborhoods - not much at all on market appreciation. Do you have 5 zip codes that you would recommend for 2/1s, 3/2s SFH that are newer construction?
To save you time, I'm not sure that Class A cash flowing neighborhoods exist in Raleigh, NC unless you can find a needle in a haystack... and if you can please let me know:)
In the A class areas around here you're looking at $600k+ homes that rent out for $3,500 if you're lucky. I don't view Raleigh as the best rental market for the time being. Agree with Chris that looking out towards Pittsboro and West of Durham could be a good idea. Good luck! - Investor · Tampa, FL · Member since 2017 · 205 posts · 92 votes4y
Hey @Account Closed, if it were me, based on your criteria I'd start looking at these areas that are darker blue, which seems to skew North, East, and SouthWest of downtown.
Good luck!
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