Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at
Portland Isnt The Best City For Those Investing In Rentals But Then Again Its Not The Worst
Dated: April 1 2014
RealtyTrac, an Irvine, Calif.-based real estate research firm, tallies up the returns investors can expect across the country. While Portland didn’t make to either the top or the bottom, the four-county area generally offers poor returns, RealtyTrac reports.
Washington County, with a median home price for a three-bedroom home of $260,000 and average monthly rental rate of $1,359, translates into a 6 percent yield for investors.
It found comparable figures for both Multnomah and Clackamas counties, earning all three a "poor" rating.
Clark County fared somewhat better, offering investors an 8 percent return, largely because home prices are lower.
In contrast, the best markets for investors offer 18 percent to 30 percent returns and include spots such as Detroit (30 percent), Tampa, Fla. (20 percent) and Syracuse, N.Y. (18 percent).
New York topped the worst cities list with an average yield of 3 percent.
Check out the report and methodology.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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