Positive Cash Flow Rental Opportunities
I posted an article on income property trends in Portland a couple of days ago and discussed opportunities to re-position large single family homes as income properties. The basic gist is that many of these old, single family homes can be rented out on a room-by-room basis to Portland’s large population of underemployed – eager to cut their housing costs. At the same time, many of Portland’s large single family homes have been discounted more heavily than the rest and are now priced at a point where the expected rental income creates a viable investment opportunity.
Here’s the follow-up – a sampling of large single family homes for sale in Portland that can generate positive cash-flow on a rental basis:
- A 5-bedroom home near Concordia University, currently priced in the low $300s. Each bedroom has its own bathroom and walk-in closet. Has a large great room with remodeled kitchen and large dining area. Property is on bus line. Rent rooms out at $450/month to students and this cash-flows at 20% down.
- 8-bed/2-bath home located one block from Hawthorne. Super close in location in one of Portland’s trendiest neighborhoods creates a strong draw for local baristas, retail employees etc. Home previously served as an adult foster home and is geared towards group living. Priced just under 400k, bank-owned.
- Old 6-bed/4-bath home converted into duplex. Located in Mt. Tabor near Caldera Pub, has city views from deck. Previously valued at 580k, now priced in the low $400s. Recently assigned to auction. Starting bid is at 179k.
Contact me for details and other opportunities.
