Analyzing Corporate and Rural Rental Demand in Mexia, Texas
My name is Sarah and I have a luxury turn-key property available for purchase (to be sold to an investor and rented out). This is located in a small town 40 miles from Waco, and 30 miles from Corsicana. There are numerous employment opportunities in the area and a sizable tenant pool that would be looking to rent out a luxury home. But luxury homes in the area available for rent is something you just don't come across.
Tenant Pool for the area include employees of Nucor Steel, Vistra Energy, NRG Power Plant, Lide Industries, Mexia State Supported Living Center, Parkview Regional Hospital, Limestone County Detention Center, TDCJ Boyd Unit, Limestone Medical Center, Freestone Medical Center and Navarro College.
The home is a 2 bedroom 2 bathroom home that was built in 2018, has 10" ceilings, crown molding and open floor plan. There are very limited rental homes available in the area and when rent houses do come along, they go quick. I have not seen too many such as this- that are a luxury newer home for rent.
What would be a good rental rate to set for the property I may can advertise to investors looking to buy? There was a similar sized property (but a much, much older home) in the area that was rented out for $2,900.00/month. I am simply not finding many comparable properties for the area.