Top 10 Rental Properties

Wichita Falls, Texas

  • Median home price: $84,000
  • Median rent: $938
  • Return on investment*: 13.4%

Mom-and-pop investors who buy properties in this North Texas prairie region and rent them out are seeing double-digit returns on their investments, according to a report from RealtyTrac.

Much of the economy relies on oil production and farming. Homes are cheap and rents — at a median of $940 a month — are pretty lucrative.

Lubbock, Texas

  • Median home price: $111,000
  • Median rent: $1,089
  • Return on investment*: 11.8%

With plenty of wide open spaces to build on, home prices remain low in and around Lubbock. Here, homes sell for almost half the national median price.

Investors who nab these deals typically rent the homes out to workers at nearby oil and gas fields or college students at Texas Tech University, which enrolls some 32,000 students, said local real estate agent, Lori Manning.

This three-bedroom house is a good example of what buy-and-rent investors in the area will find. For $115,000, a buyer gets plenty of space — more than 2,100 square feet — and many nice amenities like a gas fireplace and a large patio.

Syracuse, N.Y.

  • Median home price: $120,000
  • Median rent: $1,085
  • Return on investment*: 10.9%

With more than 20,000 students returning to Syracuse University’s campus each fall, there are a lot of opportunities for real estate investors to make money in this market.

The university keeps the economy steady here, but slow population growth — beyond the annual influx of college kids — has kept home prices low.

Related: Best advice for homebuyers and sellers

For example, this well-kept three-bedroom with a big backyard and deck is on sale for just $124,900 — about $90,000 below the national median home price.

Oklahoma City

  • Median home price: $131,000
  • Median rent: $1,176
  • Return on investment*: 10.8%

The Oklahoma City housing market, which sprawls into nearby Canadian County, is an especially good place to invest in rental properties.

Not only are homes here well below the national median home price of $210,000, but the area offers a wide variety of new homes to choose from and schools that appeal to buyers, according to Mike Malone, a local real estate agent. This brick ranch home, which lies in the southeastern suburb of Mustang, was built in 2009 and is listed for just $135,000, for example.

As a result, a wide variety of people are investing in the area, from professionals looking to diversify their holdings to retirees trying to maximize their income. “People are buying rental properties because they can’t make any money on CDs,” he said. “It doesn’t take much brainpower here to make 10% buying to rent.”

Ithaca, N.Y.

  • Median home price: $180,000
  • Median rent: $1,604
  • Return on investment*: 10.7%

Cornell. Ithaca College. Finger Lakes School of Massage. This metro area is packed with colleges and other schools, making it a prime target for real estate investors looking for rental properties.

And while home prices aren’t as cheap here as they are in other markets on this list, landlords can make up the difference by charging higher rents: the median rent here is $1,600, among the highest on RealtyTrac’s list.

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About The Author

Joseph Sabeh Jr.

Please let me introduce myself, I am Joseph Sabeh, Jr a full time licensed professional realtor. I have been with Executive Homes Realty for over 13 years and was trained by my late father and Broker, Joseph Sabeh. I recently incorporated the company and we moved the office to 43513 Mission Blvd just last summer. I could not have found a more honorable place to work. After earning my experience selling high end Ralph Lauren suits and studying business management in southern California, I decided to pursue my dream of selling real estate and working with my father. He had already had such an excellent reputation and established a niche market of high end clientele that catered to the very best. I wanted to become the consummate professional just like him and have strived to become just that being just a phone call or email away from getting back to my client’s immediate needs! Known by my clients for my tenacity, perseverance , and excellence in negotia- tion(Certified Negotiation Expert), I have always strived to meet my clients high demands and goals. As a result of my professionalism, I have achieved an extensive portfolio of referrals from past and present clients. I credit my current values from my upbringing of my parents and the credit is due to them without question. Their integrity, pride, and willingness to sacrifice for the better of my life and my sister’s always left a mark on me that one day I will pass on. Their desire to achieve a better life and live it to the fullest is one that some families dream of and I certainly am appreciative of all of the education and etiquette I have learned from them both. I have sold condos up to 3.2 million dollar homes and I am here for any and all of your future real estate needs and wishing you the very best experience in your future real estate endeavors with me.

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