Are you looking to invest in Charlotte, North Carolina real estate? An investment property can be a great way to maximize your potential income!
Real estate investing has created more millionaires than any other business. Over the past two decades, retail real estate investing has created an average annual return of 10.8%, according to data from the National Council of Real Estate Investment Fiduciaries Index. Even an initial investment in this industry has the potential to be extremely luctrative!
In Charlotte, NC, specifically, the real estate market is at an all-time high. Twenty-seventeen was especially a strong year for the Queen’s City. Real estate investors will be particularly pleased to hear that the hot streak continues into 2018.
Charlotte, NC has attracted many business and corporations. It is home to six Fortune 500 companies. These include the Family Dollar Stores, Domtar, Sonic Automotive, Nucor, Duke Energy, and Bank of America, as well as numerous Fortune 1000 companies.
In addition, the Queen City is home to a number of prestigious learning institutions that offer educational resources which help sustain above-average employment for the city residents. The Universal Technical Institute, Central Piedmont Community College, and UNC Charlotte are good examples.
Also, Charlotte’s real estate growth continues to be recognized year in and year out. Once again, the city was ranked by US News as one of the best places to live in America. U-Haul migration trends also ranked it as the 10 th Top U.S. Destination Cities. In addition, U.S. News & World Report ranked it one of the top 20 cities to live in.
The population continues to rise. In 2017, the U.S Census Bureau estimated the population was 859,035, making it the seventeenth most populous city in the country.
In addition to this, did you know that Charlotte is the largest city in North Carolina?
Charlotte’s real estate prices have risen rapidly in the past 5 years, as high demand resumed, and supply stayed low. The median house price was $165,800 in July 2012. But 5 years down the line, the median house price had increased by a staggering 42% to reach $236,000.
The average home values for cities, counties and towns in the Charlotte, CA area as follows:
Note: This data is from the Charlotte Regional Realtor Association (July 2017).
This is set to connect Uptown to UNC Charlotte and is sparking new trends.
With stops along University City, Optimistic Park, NoDa and more, renters are considering living farther from Uptown. Hence, if you are thinking of buying an investment property or any real estate properties in Charlotte, don’t ignore rentals in areas further from Uptown.
This one comes down to supply and demand. Regardless of the neighborhood, existing condos can barely meet the rising demand. The current real estate inventory is limited and there is simply not enough construction going on.
Hence, if you are interested in investing in the Charlotte condo market, this is certainly exciting news.
According to a new report by rental listings website RentCafe , the average millennial will have spent a whopping $92,600 on rent before the age of 30.
Unlike baby boomers who are approaching retirement age and are looking for the convenience factor that comes with downsizing to smaller properties, millennials are getting ready to get married, have kids and move to the suburbs and enjoy these area's many amenities. This means that the rental market for single-family houses is increasing.
The trending “suburban lifestyle” is bringing a thoughtful blend of the most desirable traits of the urban and suburban lifestyle to Charlotte’s peripherals.
This is quite evident in Waverly – a 90-acre development with businesses such as restaurants and shops, as well as offices and residential properties near the edge of the city at Providence Road and Interstate 485.
Considering these, where is the best neighborhoods to buy rental investment properties in Charlotte, NC? Well, here are our suggestions for prospective investors:
In east Charlotte, you should consider buying an investment property along the newly completed Highway 485. This area also includes the extension at Plaza Road.
In west Charlotte, consider looking at a property on Beatties Ford Road and Rozzelles Ferry Road. In the south part of the city, you can also invest near Charlotte Douglas International Airport.
While in the north of the uptown area, consider buying a property in areas around Interstate 85 and Highway 77. They are proving to be great rental real estate investment opportunities.
With proximity to the beach and mountains where residents can enjoy outdoor activities, a strong job market, a four-season climate, and home to many large corporations, Charlotte, NC is a top destination for rental real estate investors.
However, it is important for real estate investors to remember that researching the right rental real estate investment properties is key. The right real estate investment properties can turn into a solid asset and help you grow your wealth over the long turn. However, it is needless to say that choosing the wrong investment properties can be disastrous.
If you need help with your real estate investment properties in Charlotte, NC, don’t hesitate to contact our property management company! At Dawson Property Management, we are experts in Charlotte’s real estate market, so send us an info request today.
We are ready to help you gain a positive cash flow from your rental property and give you peace of mind!
