Rocky Mount, NC real estate investments

[Roger Verastegui]

I am very interested in the idea of investing in smaller towns in North Carolina, Rocky Mount is a place I have consistently heard of. I was wondering if there are any current investors in that area that would like to shed some light on their experiences? I would be extremely glad to sit down in person or have a conversation over the phone for higher quality communication. I am curious about vacancy rates and affordability in the area. 

[Art Perkitny]

@Roger Verastegui

Here is vacancy data for Rocky Mount, NC

Total vacancy is at 16.4%

What you are interested in, however, is rental vacancy rates. This is competed via to following formula:

The figure for rental vacancy pencils out to be 9.1%

This is about 2% higher than what is considered healthy, but also nothing too alarming

As for affordability

For tenants rents represent, on average, 16.2% of median household incomes

For investors, rent to price ratios are hovering a bit south of 0.5% and trending upwards

Cap rates are 2.9% for SFR

Hope this helps!