In this Forbes article, 2 out of 8 experts defined “good deals in real estate” as properties that fetch monthly rents in excess of 1% of their sale prices.
I took a quick glance at rental listings near my office and found a lovely 2,000+ SF house in Mount Baker with 3 beds, 2 baths and a newly renovated kitchen. The landlord is asking $4,500. A slightly worn-looking Mid-Century on Seaward Park Ave is renting for $2,750. Down by 46th & Holden, you get nearly 2,700 SF plus a lovely yard for under $2,500.
If you multiply these asking rents by 100 and go looking for reasonably move-in-ready 3-bedroom houses in the neighborhood? Good luck!
On the flip side, if Forbes’ experts are to be believed, it seems Seattleites selling their houses these days are getting spectacular deals.