North Carolina rental investment RTP area or Charlotte

[Kiran Yella]

Hi All,

We are considering a rental property as new as possible either in Research Triangle park proximity or Charlotte. The goal is to be able to hold it for atleast 10 years and see what happens. So rentability is a factor for investment as well has potential to build good equity. The idea is eventually the rental income to supplement retirement. Thinking a townhome with atleast 2 bed and no more than 3 bed with 2- 2.5 bath.

So, with these factors is RTP area work? What areas near RTP would be best. I am not NC resident , I guess that complicates some things. I understand Charlotte is Finance industry area and looks quite expensive. Any advice on what area to choose ?

1. In and around RTP

2. In and around Charlotte

Always have the feeling of being late in the game....

[John O'Leary]

Gastonia is a great sub market of Charlotte, and is still affordable. 

[Kelly O'Keefe]

Hi @Kiran Yella

I would recommend talking to @Avery Heilbron He is an investor and realtor in Charlotte and the triangle. He also runs a REI meetup group and as is well versed on all aspects of investing in NC

[Avery Heilbron]

Thanks @Kelly O'Keefe!

@Kiran Yella I’ll send you a PM and would be happy to chat!

[Evans Wright]

I can't speak much for the RTP area but I do know a big tech presence is starting to take fold in that area. I am located in the Charlotte area and would agree about the presence of our financial sector but also medical is a huge industry as well.

If your outlook is 10 years then going with either option will prove fruitful. There are strong macro factors to include migration, job increase, and quality of life that will be bringing people into the area for years to come. I would also add that it may seem expensive in CLT area from your point of view but for many of our new transplants it is much more affordable. It seems like 3/5 people you meet are from NY or CA and have moved here in the past 5 years. That trend will more than likely continue.

[Vijay Nidumolu]

Thank you @Evans Wright.
Any thoughts on the future outlook for Greensboro triad area ?
Are you referring to Apple's new campus when you mentioned Big tech presence is starting to take fold in the area.  

[River Sava]

Hey Kiran, happy to chat with you about different areas in/around Charlotte that are tailored to what you are looking to do. Feel free to send me a DM and we can connect!

[Stephanie Walker]

I’m biased because I’m based out of Charlotte and can’t speak as detailed about the Raleigh market as I can about Charlotte. 
I am pretty surprised that you’re finding Charlotte to be more expensive than Raleigh. I’ve not done a ton of research comparing the two recently but my general understanding is quite the opposite. We have a few investor clients that purchase here because it’s more affordable. 

Either way, I don’t think you can go wrong buying in either area over a 10 year span.

[Benjamin Carver]

I can speak for Raleigh and the Triangle. STR and MTR work very well here. I do STR near RTP and the airport and I keep my units above 90% occupancy. I'm seeing both by the room and entire STR work great here. We have a massive influx of working professionals who need short term housing. And then we also get families visiting college students (we have 3 large ones like Duke), and tons of travelling nurses (our medical industry is large here).

[Bhargav Hirapara]

The RTP area, comprising cities like Raleigh, Durham, and Cary, is an attractive option for several reasons:

• Strong job market and population growth, driven by the tech, research, and education sectors, ensuring consistent rental demand.
• More affordable home prices compared to Charlotte, allowing for better cash flow from rental income.
• Areas like Cary, Apex, and parts of Raleigh have newer construction townhomes/condos that fit your criteria.
• Potential for long-term equity growth, as the region is seeing steady appreciation.

Some recommended areas to consider near RTP:

• Cary (especially newer developments like Amberly)
• Apex
• North Raleigh
• Durham (for slightly lower prices)

Charlotte is also a solid option, though it may be more expensive:

• Strong financial/banking sector driving job and population growth.
• Higher home prices but potentially higher rents as well.
• Newer townhome/condo developments in areas like Ballantyne, University City, and South End.
• Robust long-term equity growth potential, but higher entry costs.