Since you are already doing work to the property you can modernize without spending too much money.

It was a solid single family home in a great community that simply needed updating and modernizing inside.

There's more - we installed all new kitchen cabinetry, new appliances, and enlarged the opening between the kitchen and living room to make it more open, modern , and bright.

Security cameras and outdoor lights are all pretty standard in modern communities already.

To be fair, when I include capital they drift past 50%, but that trends down as I settle deferred maintenance and modernize.

When you rehab do you usually try to upgrade the heating system to those of modern houses or is that just too expensive for a rental? 

You're going to be renting to a lower income demographic, but there are always people looking to rent in that neighborhood,  I know a lot of people have had good luck in the Valley as well, such as the Twilight and E 53rd area. the houses are relatively modern, and go for pretty fair prices.

Not to mention the retirees simplifying their life style with modern downtown condos. 

A previous owner extended the house to have two near identical (to each other) more modernized units up/down towards the back of the structure.

The population and jobs have been coming in for some time and are expected to continue with relatively lower cost of living, expanding and modern infrastructure, favorable business laws and lower taxes overall.