Investing In Apex/Cary, NC

[Juhi Jain]

1) Looking at a potential 4 Br rental townhome in Apex. The home is less than 5 years old and in great shape but does not have a garage. Only street parking. Is it an important enough factor to impact it getting rented out and future potential for appreciation?

2)Having a very hard time trying to find a good property in the Cary/Apex area. Should I be looking somewhere else, perhaps North Raleigh or Northeast Raleigh?

Thanks,

Juhi

[Jiri B.]

@Juhi Jain it would also help if you specify the price of the property? Im guessing based on the general information you provided and the type of property, it would guess around 250k-300k?

Is the 2 level or 3 level townhome? I found the 3 level newer townhomes are harder to sell.. No one seems to want to walk 3 flight of stairs to a bedroom.

As for the rentals, i don't think the garage makes any difference, especially if that is a townhome. I've had renters that wanted 3 car garage and then i had renters that did not want garage at all.. I hope you get what im trying to say.
Renters are not as picky since they are no buying it and its easier for them to move if their needs changes.

If you worry about appreciation, i would go with Single Family Home. They tend to appreciate much faster then townhomes. And you also save money on HOA fees.

As for your second question, it really just depend on your price range.. Yeah, if you are in Cary, forgot about anything decent under 200k.. If you are in east Raleigh, 200k will give you a decent rental property.