I have a 4/2 SFH in the highlawn area of Huntington, picked it up very cheap and invested money into it to completely redo it. I am sitting around 40k all in and my appraisal just came in at 85k. rents for 1200 a month so it's a home run. There are so many opportunities like this in the market. Huntington housing is made up of 53% rentals so it's very renter friendly. I suggest if you are looking to get into the market here to stay on the River side of the railroad tracks and in the east end.
I'm in Ashland, KY, 15 minutes from Huntington and it's a great rental market. You can get many houses in the $50K - %100K range that meet the 1% rule and create $200+ in per unit per month cash flow. Quite a few renting instead of buying in the market. Screen people adequately and I've had great success. Can't speak for Huntington specifically but I know there's a lot of rental properties and some people doing very well.
Live in Huntington, really would be careful with lower rent properties. The drug problem is really terrible here. And I read somewhere that WV has a high percent of home ownership. I am looking at trying out of state...
Huntington, WV is a great place to invest in real estate. As many commented above, there are bad areas of the city which you must avoid. Outside of the bad areas, nearly every property meets the 1% rule and some are significantly above. I have a single family home which I rent for 1.25%. I also have an 8 unit building which I rent for 1.375%.
Reach out to me with any questions. I'd be happy to assist you in finding, renovating and managing a property in the Huntington, WV area.
I have a home in Huntington that has been a rental for close to 12 years now and it has done just fine. I was also a Realtor in Huntington until I moved out of the area. With that being said, as others have mentioned the drug situation has gotten really bad. You really need to know the area well if you want to invest there so you know what to avoid and what neighborhoods may be worth investing in. We now focus on investing across the bridge in Proctorville, OH where the school district is in high demand and it’s hard to even find rentals listed. Barboursville is also a decent area.
I have a 4/2 SFH in the highlawn area of Huntington, picked it up very cheap and invested money into it to completely redo it. I am sitting around 40k all in and my appraisal just came in at 85k. rents for 1200 a month so it's a home run. There are so many opportunities like this in the market. Huntington housing is made up of 53% rentals so it's very renter friendly. I suggest if you are looking to get into the market here to stay on the River side of the railroad tracks and in the east end.
@John Corralejo, I agree with @Travis Bailey & others. There are some good areas but many not so good areas. We have a SFH we recently completed. It is a 3/1 in the area Travis suggested and should rent for $800-1000. Hope this helps.
We are interested in a property in Huntington, WV now and have just made an inquiry on a multi-family unit that will need renovations. Would love to connect about the area and renovations.
Huntington, WV is a great place to invest in real estate. As many commented above, there are bad areas of the city which you must avoid. Outside of the bad areas, nearly every property meets the 1% rule and some are significantly above. I have a single family home which I rent for 1.25%. I also have an 8 unit building which I rent for 1.375%.
Reach out to me with any questions. I'd be happy to assist you in finding, renovating and managing a property in the Huntington, WV area.
I used to work for a company that had a partnership with Marshall so I am curious what the area is like for REI?
Looking there myself. I live in the area. I have a friend that has 14 units and has done very well. You just have to be diligent about the location as there are some rough areas.
I am also studying the market to buy. Things I learned so far. I am from California, real estate agents are hit or miss only have found 1 in about 30. Contractors are all busy So be careful here buying a rehab. This is as far as I got. it sounds like the drug problem is pretty bad. will do research on that next. you can pm me if you want to trade notes