How is the rental market for single family homes in the Alabaster, Alabama area? Is there an area that has the best schools and higher rents?
I like Alabaster. Alabaster has their own school system with good tax base. For the right deal I would invest there. Good luck JP
Rent can go from 900 to 1300. Check Zillow for rent. They are not too far off.
We love Alabaster. I would agree with John in regards to rental amounts. Try to be in no more than 80% ARV. Also, there should be appreciation value in the area.
Alabaster is a good solid area with long term middle class growth and stability. It is a bedroom community for Birmingham, plus local jobs in retail, fast food, lodging and health care. As a result there is not any single employer that could shut down and endanger property values or rents. There are no nearby problems--like industry or lime pits--to cause pollution. The large retail area on I-65 at exit 238, brings in a huge amount of sales tax dollars, drawing customers from surrounding counties. Roads, police, and fire departments are all excellent. Until 20 years ago, Alabaster was largely a rural community. As a result there are no true blighted areas of town, because there just isn't anything that old. The hospital is a good draw, is well capitalized and well managed, and has spawn a large medical services community. Alabaster is restricted for northern growth by nearby Pelham, and restricted from southern growth by nearby Calera. As a result, it is growing westward, towards Maylene and Montevallo. There is less growth eastward, but there is some. Shelby County, where Alabaster is located, has been consistently high growth for almost thirty years. I would be very comfortable investing in rental houses there. The school system is good. Not excellent, like those in Hoover, Mountain Brook, Vestavia Hills, or the Oak Mountain area, but still good quality with adequate funding. People will not look for McMansions to buy in Alabaster. They will look for SFR housing, often renting for several years, in my opinion.
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