Pittsburgh long term rental ROI expectations
I am closing on my first investment property in the upper Lawrenceville area of Pittsburgh. I was able to get a nice low down conventional mortage and negotiate a good deal under list price. I will be living their with my gf for a year or two and plan on renting it out or AirBnb'ing it afterwards so i can move onto my next property. I did the ROI calculation as a rental unit long term assuming $1700/month and a 20% maintenance/vacancy escrow. Its a recently top-bottom renovated/flipped 3br 2ba so these seem like reasonable assumptions (agree? disagree?). Its working out to about a 15% roi on my downpayment+closing costs. I am curious if anyone has any input on expected ROI's based on your experience with rental properties in the Pittsburgh market? I also did some analysis and have a SouthSide flat's property identified that would be about a 15% return as well for someone with a low owner-occupied downpayment (happy to share this with anyone looking to partner up on it!). I utimately passed on this for the lawrenceville property.