Charlotte, North Carolina is one of the fastest-growing cities in the country. A wide variety of employers, Southern hospitality, proximity to other large cities on the east coast, and a strong housing market make Charlotte an appealing place to live.
Investing in real estate in Charlotte can be lucrative, as the hot housing market means that many people are renting homes. If you are interested in real estate investing, read on to learn about the hottest places in Charlotte to buy rental property.
Davidson is a popular suburb of Charlotte. It lies about 20 miles north of Charlotte, adjacent to Lake Norman. If you want a rental property in an area with a small-town feel with easy access to a city, Davidson is it. Davidson College is here, giving it a college-town feel.
It's full of coffee shops, restaurants, and parks. The schools are also top-notch, making Davidson an attractive area for families. Median home values are around $406,000.
Belmont is another suburb of Charlotte that has a small-town feel with easy access to downtown Charlotte. It's about 15 miles from the city and sites between Lake Wylie and the Catawba River. It's a hidden gem, with parks, great restaurants, plenty of activities, and great schools.
The median home value is much less than Davidson, at around $180,000.
Ballantyne East is a relatively new neighborhood and is close to the headquarters of many of the large corporations that call Charlotte home. The homes are large and there are plenty of amenities in the area, such as a golf course, bike trails, and plenty of shopping and dining choices.
The median home price is about $550,000.
Plaza Midwood is a hip and trendy area of Charlotte that is also partially located in the historical district. From restaurants to museums and galleries to laid-back breweries, there is something for everyone in the area. The community association is very active, organizing festivals, clean-ups, and fundraisers.
If you're looking for a family-friendly area, Plaza Midwood checks that box too. The area boasts parks, great schools, and pedestrian-friendly sidewalks, plenty of things for kids. Consider a single-family home that can be rented to a young family in Plaza Midwood.
University City is home to the University of North Carolina at Charlotte, so there are plenty of potential renters in that area. If you are looking to purchase rental properties that have multiple units, University City is a good choice. With lots of renters always needing homes, you can likely easily recoup your investment in this area.
Buy Rental Property in Charlotte Today
The market is still hot, so now is the time to buy rental property. While many people are selling their homes to downsize or rent for a few years until the market cools, you can cash in by renting out homes and apartments to those looking for a place to live.
If you want to really maximize your investment, leave the property management to the professionals. Contact us today. We can handle the rental process for you, from rental valuation to finding a tenant and screening them, and take care of the day-to-day management of your investment with easy-to-use tenant portals.