Raleigh vs Durham - Rental Investment Property
Hello there,
Given the recent companies opening new offices into this area got my attention. However I am not even too sure which area to begin with. I realized that property taxes are different.
Ideally I am looking for buying and holding it long term. Rather than renovating and flipping it. While doing that I wouldn't mind if the property has some cash flow and potential to appreciate in the long term (if more high paying jobs increase?)
So if possible, could anyone please give me differences between those two areas, and the potential future of them?
Also I'll be doing out of state investment; so it'd be also good if you could recommend me some realtors to help me do some research in the area.
Thank you
Most Popular Reply
@Sarp Ka South Durham (Carpenter-Fletcher, Woodlake, Woodcroft and even Hope Valley Farms) are excellent A-B class high appreciation neighborhoods with rental rates that are currently sky rocking. Centrally located it has commutable access to Duke (41K employees) UNC, IQVIA, Cisco, SAS, IBM, Lenovo all w/ 5K plus employees. There is more appreciation upside in Durham than there is in Raleigh and Durham is more commutable to RTP than Raleigh.
Rented out an SFH in Emory Woods Estates neighborhood this week for what I would consider an aspirational rental price and was flooded with out-of-state applications (NY, NJ, MA, CA) many were Residents at Duke. The lease was signed within 48 hours of posting.
Feel free to DM me if you have any questions on a property.