I am looking to expand my rental portfolio but I am not sure if I should try a b class ( 95k ) sfr, all my rentals ( I have 6 are in a (c class) in eagledale)
eagledale rentals rent for $750 month paid on average 55k build in the 1950s
possible buy is on Zip code 46237 for sale for 99k market value is 120k. rented now for $950 month, could maybe increase rent to $1050 ( this one is build in the 1980s)
my question is , should I just buy 2 more in eagledale or go for this b class sf?
note: my eagledale homes tent to have issues with plumbing being too old. so maintenance is more expensive?
I'm in 46268 with a house valued at 115k-125k. 1200 sqf, corner lot that has been rented consistently for 1250, including pet fees. Its probably slightly over market rate, but still competitive. Market is hot right now, so take it all with a grain of salt.
Personally, I'm favoring B over C right now. But like most things, it always depends on the property and neighborhood. Indy varies greatly block by block.
I don't know much about b class rentals,
@Enrique Hernandez If I was in your situation I would factor in how long I plan to hold the property. If you're looking to hold the property for a long time I would go with the Class B because it will require less maintenance over the long run.
If you're not planning on holding a long time I would go for the Class C, use some money for renovations and flip it. If you can't flip it, then market it as *Newly Renovated* and rent it out at a higher rent.
My plan is to hold for long term.
Newly renovated, great tip.
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