Looking for good price/rental rate properties anywhere in U.S.

[Paul Whitney]

Hello,

Selling a rental in San Luis Obispo, CA and trying to redeploy equity in 1031 exchange to a better price/rental rate ratio location.  Ideally, looking for something along the lines of a 200k purchase price with 2000/month rental income.  Anyone know of locations within the states where this is possible?

[Zeke Liston]

Quote from @Paul Whitney:

Hello,

Selling a rental in San Luis Obispo, CA and trying to redeploy equity in 1031 exchange to a better price/rental rate ratio location.  Ideally, looking for something along the lines of a 200k purchase price with 2000/month rental income.  Anyone know of locations within the states where this is possible?

Hi Paul, yes, this is possible in most cities of Ohio. Columbus, Cleveland, Dayton, and Cincinnati are all cities where the 1% rule is attainable. A client of mine is about to close on a duplex in a C-class neighborhood called Linden here in Columbus for $195,000. Right now, the gross rents are $1,800, but he will raise them to $2,000-$2,200 after closing. Hopefully, this gives you an idea of what you can expect in a city like Columbus.