Investors increasingly are eyeing college towns to snag properties at discounts and turn them into rental properties that could potentially offer steady cash flow with student tenants. But which college towns offer some of the best returns?
Realtor.com recently released its second annual list of the best college towns for investors, factoring in average monthly rental prices and comparing it to estimated mortgage payments of a median priced home.
The following are the top eight college towns for investors, according to this year’s report.
1. Boston
Median list price: $334,900
Average rent: $3,084
Mortgage payment estimate: $1,240
2. Princeton, N.J.
Median list price: $265,000
Average rent: $2,056
Mortgage payment estimate: $980
3. Chicago
Median list price: $194,000
Average rent: $1,630
Mortgage payment estimate: $720
4. Washington, D.C.
Median list price: $395,000
Average rent: $2,637
Mortgage payment estimate: $1,460
5. Houston
Median list price: $183,000
Average rent: $1,134
Mortgage payment estimate: $680
6. Philadelphia
Median list price: $234,900
Average rent: $1,475
Mortgage payment estimate: $870
7. Atlanta
Median list price: $174,900
Average rent: $1,187
Mortgage payment estimate: $650
8. Pittsburgh
Median list price: $140,000
Average rent: $1,122
Mortgage payment estimate: $520
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/08/22/top-8-college-towns-for-investors
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