[vc_row][vc_column][vc_column_text]By Mary Shanklin, Orlando Sentinel April 4, 2013- Seven of Florida’s foreclosure-filled housing markets are among the nation’s Top 20 metro areas for single-family rental investments, according to a report released today.
Ocala was the top-ranked of the Florida metropolitan areas, ranking fourth nationally with a median sales price of $75,357 for a three-bedroom home and an average monthly rent of $1,070 on the same-size house, according to the report by real estate research firm RealtyTrac Inc.
The California-based company predicted cash flow by factoring capitalization rates, rental rates and home prices. Occupancy rates were not factored into the ranking.
The four-county Orlando metro area ranked 13th for best returns, with a median sales price of $108,000 on a three-bedroom home and an average rent of $1,316 on the same-size house.
“Buying single-family homes as rentals that actually generate good monthly cash flow has become more difficult over the past year as institutional investors crowded into the market, snapping up tens of thousands of properties in 2012 alone,” said Daren Blomquist, vice president of RealtyTrac. “But there are still opportunities for the more conservative, individual investor to buy rental homes that generate a healthy return on investment — it often just takes persistence and willingness to pass on bad deals.”
Other Florida metro areas on the Top 20 list were: Brevard County, Jacksonville, Volusia County, Tampa-St. Petersburg, and Lakeland.
Leading the nationwide list was Memphis, Tenn., with a median price of $72,605 for a three-bedroom home and an average rent of $1,047 for a house of that same size.[/vc_column_text][/vc_column][/vc_row]
