Choosing a property that can generate profit is essential, as any investor worth their salt will tell. However, for you to ensure that your property investment can provide a steady cash flow, there are several things that you have to consider before making the big decision.
Finding the right spot is significant when starting a property investment because it affects both the value of your rental home and your future tenants. Moreover, this can have a big effect on your property's worth, its growth potential, and your general return on investment.
Keep in mind that when people look for rental houses, they usually search in areas that offer them great perks and amenities such as job opportunities and low cost of living.
If you're looking for these types of qualities for your next property investment, you might consider one of the cities in North Carolina, like Greenville.
Greenville, North Carolina is the 10th largest major city in the state, boasting a population of 93,137. Greenville, also known as the Emerald City, is generally seen as the cultural, educational, business, and medical center of eastern North Carolina.
Why Invest in A Rental Property in Greenville, NC?
There are a lot of reasons why investors like to purchase their rental properties in the Greenville area. If you're strongly considering buying a rental home in North Carolina, here are the reasons why you have to consider Greenville as a location for your rental home business:
1. Affordable and Manageable Living Expenses
With all the inflation going on in the country, some tenants are now looking for rental homes that offer more affordable living costs compared to other cities.
According to Payscale, Greenville, NC has a median household income of $50,120 with 21% lower housing costs and 2% lower utility bills compared to the national average. The transportation costs of the city, which include bus ticket and gas prices, are also 3% lower than other cities.
2. Great Educational System and Low Crime Rates
Greenville is served by a highly-rated school system, with a variety of public and private schools available. This makes the city a great place for families with young kids who are looking to move to North Carolina.
East Carolina University is a major educational institution in the city, offering a range of academic programs. Other key education institutions that you can find in the city are:
- Arendell Parrott Academy
- The Oakwood School
- Junius. H. Rose High
- D.H. Conley High
Aside from having great schools, Greenville also has a low crime rate compared to other cities of similar size, making it a safe and attractive location for families and young professionals.
3. Investment Potential
The growing population of young professionals and families in Greenville results in high demand for rental properties. This makes the city an attractive location for investors like you.
And even though the city has a variety of neighborhoods and communities to choose from, including downtown, suburban, and rural areas, there is still a decent public transport system available for everyone. Some of the available transportation systems available around the city are:
- The Amtrak Shuttle
- Greyhound Bus Stop
- Greenville Area Transit (GREAT) System
- Pitt-Greenville Airport (PGV)
Overall, Greenville is a great location for you if you're looking for a mix of cash flow and appreciation.
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4. Strong Job Market and Growing Economy
Greenville has a strong job market with a low unemployment rate. Being a part of Pitt County makes it easier to find a job here or start a new career compared to other cities. It is also home to ECU Health Medical Center, a major employer in the area. Other businesses and large establishments that you can find in Greenville, North Carolina are:
- Grady-White
- Patheon
- Thermo Fisher Scientific, Inc.
- Vidant Health
Greenville also has a growing economy since it's a hub for entrepreneurship and innovation, with a variety of resources available for startups and small businesses. Apart from great restaurants that sell good food, there are also bars downtown that you can enjoy.
5. Neighborhoods and Community
Greenville has a strong sense of community, with a variety of community events and festivals throughout the year. The city has a variety of parks, nature reserves, and outdoor recreational areas, including the Tar River and the Greenville Nature Center.
Sports fans and people who love exploring the outdoors will also enjoy living here because of the various leisure attractions like grocery stores and golf courses. Some of the famous amenities you can go to are:
- Ayden Golf & Country Club
- Bradford Creek Public Golf Course
- Bradshaw’s Department Store
- Closet Consignment
- ECU’s North Recreational Complex
- Greenville Mall
- Greenville Museum of Art
- Greenville Museum of Art
- Greenville Nature Center
6. Good Quality of Life
You will never feel bored when you are living in Greenville, NC and this helps you to keep great tenants. The downtown area has a vibrant cultural scene, with a variety of festivals and events throughout the year, including the Umbrella Market. It is a small town with a big-city feel, offering a unique blend of Southern charm and urban amenities that young people love.
Even after the sun goes down, you can still enjoy exciting nightlife and live music through the different clubs and breweries available in town.
7. No Rent Control
Another good thing about Greenville is there is no rent control for property investors like you. With this kind of freedom, you have the flexibility to decide the competitive rental price for your business without worrying that you might go over the state rental law.
8. Pleasant Year-Round Temperature With Mild Winters
Summers in Greenville are hot and humid, while its winters are pleasant with occasional cold snaps. Most of the time, it's bright or partly cloudy, but sometimes it rains or snows. This means that you can enjoy most days outdoors for sightseeing, eating some local food, and enjoying everything Greenville has to offer.
Unlock Profits in Greenville’s Booming Economy!
Greenville, NC is a growing city in Eastern North Carolina with a strong economy and a high demand for rental properties. Its diverse range of industries, including healthcare, education, and manufacturing, makes it an attractive location for investment.
The city has a lower cost of living compared to other major cities in the United States, making it an attractive option for tenants. So, if you would like to maximize your return on investment in this great city, it's best to partner with a local property management company.
Flagship Realty Group is a professional property management company that offers services to investors like you in Greenville and Goldsboro, NC. We can get you started on the right track with your Greenville investment since we have several residential income properties in the area.
Apart from this, we also offer a variety of services for your rental property business so you can ensure that you navigate the rental regulations in the city tediously while properly handling the marketing and maintenance of your leasing business.
Contact us today and get the best Greenville property investment for you!
