Looking to buy a new construction in Crown Point, IN

[Chintan Sheth]

Hi, I'm looking into some new constructions in Crown Point, IN. Some data that I pulled shows that a nice 4bd/2.5ba can rent for $3500+. Some new constructions of this size are priced $380-$400k. Definitely doesn't meet 1% rule but what does these days? Builders are looking to offload inventory and giving some concessions. This would be a long term buy and hold for me and more of an appreciation play with a bit of cashflow. My question is, are these rent numbers inflated and expected to come down? Is there strong rental demand in Crown Point? I live in Chicago and the way I see Crown Point is a quality suburb with top schools. 

Thanks! 

[Eudith Vacio]

Hey Chintan! 👋🏽You're absolutely spot on with the renal prices, but keep in mind that seasonality makes a difference as well in terms of when you rent the place out. Summer months are more in demand which means you can probably get the house rented out at a higher price. Crown Point is beautiful, and as a dual-licensed agent in IL & IN, I am seeing SO many people jump to Indiana, specifically Crown Point, Munster, Saint John, etc. 

Builders are also handing out concessions with lower interest rates so it's worth it! you can't beat those prices and definitely harder to find in IL

 & I agree, who cares about the 1% rule if you're putting down 20% or more, what really counts to me is CASHFLOW. 😃