Currently looking at a property in Hazelgreen Alabama (North of Huntsville). Schools look great but the area looks rural not sure of the rental demand in the area? would love to hear from folks in huntsville or near by areas who know anything about hazelgreen.
Specially any guidance with respect to rentability of the property in the area would be helpful.
Really depends on the property and where at in Hazel Green it is, but I usually see a pretty good demand for my rentals out there. If I have someone move out my units tend to only be vacant for a week or two. That is in the 800-900 a month price range.
My experience is anything within 10-15 minutes from schools or grocery stores, the easier it would be to rent. My opinion is that Hazel Green will be the new Madison. Plenty of room for positive growth.
@Blake Jarrett Can you tell me more about different areas in Hazelgreen that are better than other? This will overall help me with making a decision with this property and in general, going forward. Also how about the rentability of $1000+ pm rentals?
@Jason Grey Properties in the vicinity of good schools tend to do good. But is there any enough/good demand for rentals in Hazelgreen? or there is there more demand of owner occupied homes? Also why do you think Hazel green will be next Madison? Signs of New construction? population increase? increase in rents?
If it is a prime location in Hazel Green, I'm sure it will rent. However, I don't think the property will appreciate much, and nothing like the property appreciation being seen in Huntsville, Madison, or even Athens currently. I am also not as bullish on growth in Hazel Green, but that's just my humble opinion.
@Gaurav A. There is no more room for Madison to grow. Huntsville has annexed land and now literally surrounds it Madison. Hazel Green is still convenient to the Arsenal and Research Park (30 minutes or less) and offer a more country feel. To me, Hazel Green is now, what Madison was 20 years ago when I first moved to the area.
The new home builders have recognized that and they are flocking to the area.