Real estate investor · Pasadena, MD · Member since 2016 · 165 posts · 258 votes
9y
I have 11 properties that are 1 bed 1 bath. (one is a 3 unit). They all are in C- or worse neighborhoods. They cash flow great. $700 or more a month net. We haven't had too much trouble getting them rented and we do have some long term tenants in place. We have 5 that have been with us for 3 or more years.
Most of our tenants are single moms,retirees,or on disability. Most are market tenants but we do have 1 section 8 and 3 that are placed with Catholic Charities and we are currently working with a non profit for the homeless to place some of their clients.
We have actually found a fairly decent demand for one bedrooms here in the Baltimore area.
I also have 9 detached single families in B neighborhoods. it still all comes down to tenant screening. I self manage and really have no personal preference between the two from a management perspective.
Rental Property Investor · Malvern, PA · Member since 2016 · 1k+ posts · 936 votes
9y
It all depends on the location. You will probably find you have higher turnover with 1 BR/BA than if you have 2 or 3 bedrooms since your tenant is likely to move out as soon as he/she meets someone.
Real Estate Agent · Hamilton, NJ · Member since 2013 · 464 posts · 311 votes
9y
I would agree with what @James Mc Ree said. You will be limited to the types of tenants you attract (could be a good thing). Also, I would think that you won't be able to charge as much rent as say a 2 or 3 bedroom duplex. Is there a reason why you'd want a one bedroom duplex opposed to say a 2 or 3 bedroom duplex?
Real estate investor · Pasadena, MD · Member since 2016 · 165 posts · 258 votes
9y
I have 11 properties that are 1 bed 1 bath. (one is a 3 unit). They all are in C- or worse neighborhoods. They cash flow great. $700 or more a month net. We haven't had too much trouble getting them rented and we do have some long term tenants in place. We have 5 that have been with us for 3 or more years.
Most of our tenants are single moms,retirees,or on disability. Most are market tenants but we do have 1 section 8 and 3 that are placed with Catholic Charities and we are currently working with a non profit for the homeless to place some of their clients.
We have actually found a fairly decent demand for one bedrooms here in the Baltimore area.
I also have 9 detached single families in B neighborhoods. it still all comes down to tenant screening. I self manage and really have no personal preference between the two from a management perspective.
Norfolk, VA · Member since 2016 · 8 posts · 1 vote
9y
Chris,
Just wanted to add to my inventory, I really like the 2/3 br multi family homes and I thought to myself what if I had 1bd/1br how would that turn out
Investor · Post Falls, ID · Member since 2016 · 606 posts · 699 votes
9y
Set them up so they are easy to turn over -- Allure floors, standard washable semi gloss paint, month to month rental agreements so it is easy to get rid of non-payers (if that is true in your area), and clear instructions to tenants on what they need to do to get SD returned. Much of the downside a high turnover can be mitigated with proper planning.
The hot trend in Seattle is "micro apartments" -- tiny little studios with high end finishes and glossy marketing. Your one bedrooms would seem palatial in comparison.
Augusta, GA · Member since 2014 · 1k+ posts · 1k+ votes
9y
If you wish to work with the HUD VASH program (i.e., the program for homeless veterans) many would qualify for a 1 bedroom unit. A fair number in this program are single vets and thus their vouchers would be limited to such units.