I realize now that I should have supplied numbers initially- for numbers I am looking for $650k and under.

The country simply does not have enough affordable housing units, and the new supply of affordable housing units is not keeping up with new demand.

We find that having the tenant pay for all utilities and taking the small hit on rent we are far ahead over supplying utilities to the tenant. 

For property owners in this area, what have you seen in terms of supply and demand. 

For one is that an appropriate price point for the supply/demand curve intersection?

A supply and demand imbalance drives rents and prices higher.

pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

The process went smoothly, and I’m happy I got a tenant so fast, but the high supply of new builds in the area makes me nervous.

If you don't flip, these guys are usually in the appropriate isles at Home Depot with the carts of supplies or just hang around the commercial check out.

Properties are sitting on market for a bit longer now that supply is slowly creeping back up. 50 days isn't too terrible compared to the greater PHX area.