Seattle is the nation’s seventh-best market for rental property investing, according to a new report.
All Property Management of Seattle, which prepared the report, said the report is "a measure of a market’s attractiveness for rental real estate investment."
Grand Rapids, Mich., is the nation’s top rental investment city, followed by Tampa, Fla., Nashville, Tenn., Poughkeepsie, N.Y., San Jose, and Kansas City, Mo.
Dayton, Ohio is the nation’s worst city for rental property investing, according to the report.
“San Jose and Seattle are great cities to own rentals, but their low cap rates require an investor to incur negative cash flow in the early years until rent increases and appreciation make up the difference. Cities like Grand Rapids and Nashville allow you to earn a great cash return now in exchange for lower appreciation potential in the future," said Reggie Brown, CEO of All Property Management, in a statement.
Ben Miller Contributing Editor-Puget Sound Business Journal