A new report by Attom Data Solutions indicates a 9% Annual Gross Rental Yield for single-family homes in Tampa Bay in 2017. Although this is own 5% in Hillsborough and 7% in Pinellas from last year, the return on investment for rentals continues to be strong in the Tampa Bay market. A 3-bedroom rental averages $1,432/month.
Finding the right investment property is a bit tricky in the continuing Seller’s Market. Properties listed under $200 typically go under contract within 30 days, and with many investors watching the inventory, the best investment properties are typically under contract in less than a week. Fixer-uppers with a solid structure listed under $100K are also typically under contract with a cash offer within the first week.
Single Family Rental Returns by County: 2017 (https://public.tableau.com/profile/darenjblomquist…)
GTAR Market Statistics January 2017 (accessible by GTAR members only)