I am exploring elk Grove 95757 zip code area to buy investment SFR property. I am planning to hold this property for 7-10 years and property appreciation is my primary goal. Yesterday I visited this area and there is a lot of new construction going on. How is the rental market here. I searched for Zillow rentals in the 95757 area and saw very few rental listings. Most of the properties are lower 600's and rents range from 2500 - 2800$. Is elk Grove good area to buy and hold for the long term even though there is some -ve cash flow? Any thoughts/suggestions. Thanks
Hi @Ramki D. , in my experience the rental market in Elk Grove is consistently strong. I lived there from 2010 to 2019 and I have had a rental in 95758 since 2019. When I list the home, the applications / inquires have been overwhelming. People like that its family friendly with good schools and more affordable than areas of Sacramento. With the expanded Apple campus in the works, the new casino, and the city announcing "Project Elevate," I do not see this changing any time soon (even with the new builds going in).
@Roxanne Quane thanks for sharing your thoughts. Does elk Grove have tech jobs? What is this apple campus expansion? And what is the citys "project elevate"?
I'm curious too - keep us updated!
might help you https://www.kcra.com/article/e...
@Harmeet Gill thank you.
Elk Grove is a good area to invest in, its less than an hour away from downtown Sacramento and it still has a suburban feel. You'll be able to find decently priced single family homes that would be good as rentals. You'd be able to rent to families and class A tenants that want to have a small town lifestyle. Elk Groves population is growing and new builds are springing up all around the area, if you held for 7-10 years and sold you'd get a great return on your investment.
Elk Grove is a good area with lots of growth and high rental demand because of short supply. I'm not sure of the cash flow potential of rentals given the current high property cost and special tax assements in the 95757 zip code. You would probably break even, or maybe be in a negative unless you find a super deal on a property.