3. Unemployment rate trend looking for markets that seems to be recovering and would lead to more population coming in. I got this info from the census bureau
What you will find is that all socio economic, population and employment data was very strong. But, the crash that Atlanta saw in 2008 2010 was nearly the worst in the country. It could be years, decades or never before values in certain parts of Atlanta return Air Max 180 Camo
The reason for this is that a HUGE factor this data couldn't take into account was the building trends. The amount of new construction that took place in Atlanta during the mid 2000s (probably because of this data) was ridiculous. Air Max Yeezy Red October
7. Average salary over average property value I used neighborscout for this
Despite strong population and employment trends, building outpaced growth, and resulted in a dearth of housing during the market crash.
11. Distance from my location I thought I should start with something that won't require more then 2 hours train, though I'm not planning to manage it myself but using a PM.
9. Appreciation rate in the past 10 years, 5 years and last year census bureau
Those are all fantastic metrics and I commend you for taking the initiative to dig into your market so well very few investors do that, and this tells me that you have what it takes to be successful in this business.
1 bathroom with 4 people renting is going to take a lot of abuse. Especially if its college kids.
10. Average rent Air Max 95 Images over average property value average Nike Air Max 95 All Black On Feet
8. Vacancy rate neighborscout (here baltimore gets a really low score)
You most likely won't get cash flow, and as has been discussed recently on other threads, over the long term, real estate tends to keep pace with inflation in terms of appreciation. Unless you have some reason to believe that appreciation for this property will outpace inflation, in my opinion, that's not a reason to buy real estate. Population above 200K just because I assumed that they will survive recessions better then suburbs.
That said, keep in mind that these metrics aren't necessarily going to indicate whether property values will outpace inflation (or whether they'll increase at all). In other words, this data isn't going to tell you if property values will appreciate long term and to what extent. As a great example, look at this data for the Atlanta market back in mid 2000s.
to where they were 7 years ago. And that's despite all this data indicating a strong local market.
cap rate neighborscout
5. Education system I used neighborscout for this
6. Crime rate I used neighborscout for this
A $200,000 mortgage works out to about 1100/month. Add in the $400/month taxes, and you're looking at about 1500 in expenses, and that's if nothing breaks. Search around here for the 50% rule, that will get you started with the property analysis.
2. Owners / Renters the ratio between renter and owners in the targeted market. I got this info from the census bureau
4. Taxes rate I used neighborscout for this
Again I'm really sorry for the green questions but I'm taking my first baby steps and your feedback is really valuable.
Now, what the data you listed above will likely tell you is whether the market is likely to stay strong in terms of market rents and whether there will be continued market demand. Obviously, there are still other factors, but things like over building are less likely to counteract the socio economic and population trends, as new construction is rarely competitive for rental units.
I gathered all the cities around and scored them on a spreadsheet and that's how I started focusing into the city to find the right neighborhood.
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