Where to Buy

There are areas that are more desirable, and in general the closer to Sonora the higher the rents.  A home in Cedar Ridge or higher in elevation will usually rent for $200 to $300 per month less than a comparable home in Sonora, and perhaps $100 per month less for the surrounding areas of Columbia, Jamestown, Sonora, East Sonora up to and including Souslbyville & Crystal Falls.  Fighting snow and ice to go to work down the hill reduces your rental's desirability. 

Return on Investment

Your cap rate will be better if you purchase a duplex or multi-unit, though they are very hard to come by in this county.  A Realtor can often help you find one BEFORE it goes on the market.  If you search for property that will rent between $1000 and $1350 per month in or near Sonora, you should have a very low vacancy factor.

We have seen a trend of people renting out brand new houses.  Unless you plan to rent them for 15 years or better, it will be hard to recoup your investment.  If you have decided on a property and are not yet working with a Realtor, Melissa Oliver, a Broker Associate with PMZ Real Estate will be happy to write your contract as she is experienced in the language needed to write a 1031 Exchange purchase contract.  Even if you are not doing a 1031 Exchange, you will find she is one of the best Realtors in the county!

You should be able to get a general idea of rent value from the pages of this website.   We will work closely with your Realtor to assist them in giving you a ballpark figure on rents.  One of the services we offer to investment property owners is to give an estimated value on rent on your residential or multi-unit property.  This service is offered free of charge.  Our time is limited so we try not to perform this free service unless the property is already in escrow.

Ready to Buy?

If you would like assistance in finding the perfect investment property, please email Melissa.  Or give her a call at 209-694-8781.