This white-picket fenced, 2 story home with 3 bedrooms and 2.5 baths is definately a good candidate as an investment property for someone looking to purchase a Single Family Home. The neighborhood is nice, with similar homes. Its just down the street (walking distance) to an elementary school. And the Sultan location keeps the price down without being too far out (like Startup, Gold Bar, or Index tend to be.) Rents in the area for a similar home run between $1100 and $1200 (higher rents tend to be for 4 bedrooms and/or homes that allow pets). CAP rate based on these rents, and keeping expenses low (which should be easy with a SFH.... you can make the tenants responsible for most maintenance) will mean something between 4-5%, which is not bad for a single-family home in this area. Before the real estate slowdown, CAP rates for homes were running in the 1% to 2% range, thanks to cheap financing (which kept rents down) and high prices.
The house features an open and spacious feeling with vaulted ceilings. the family room has a brick fireplace which helps keep those heating bills low in the winter. The fenced backyard has a large deck great for entertaining...BBQ anyone? And, there is a large side lot for outbuildings or toys.
Check out the neighborhood on virtual earth. Sorry, no birds eye view available.
Or you can check out more info on my website.
Here are some of the pictures if you are short on time:
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Jason Hershey, Designated Broker
Tellus Real Estate Solutions, LLC
PO Box 1113
Duvall, WA 98019
Office: (877) 413-7325
Cell: 425-417-5389Fax: 425-223-3148