Real Estate Investment Analysis 2220 NE Lafayette Ave McMinnville OR 97128
Real Estate Investment Analysis in McMinnville OR
This 7-unit apartment complex is located within an Opportunity Zone inside the city of McMinnville in Oregon. Opportunity Zones offer many tax benefits for the real estate investor. When you’ve completed your analysis, this benefit will add value over similar priced and performing investment properties. The Actual and projected CAP rates at 6.36 and 7.62% respectively are very solid as are the other common investment calculations.
McMinnville is known as the heart of the Oregon wine country. Beautiful vineyards thrive in this area as bikers enjoy scenic paths on their daily route. Downtown, the streets are lined with trees and historic buildings. This charming town offers a strong sense of community and a laid-back culture.
Situated just an hour from Portland, thirty minutes from Salem, and 45 minutes to Oregon’s scenic coast, McMinnville locals can take a day trip to the Bridge City, the State Capitol or the Oregon Coast. However, McMinnville offers plenty of amusement and amenities itself. From charming restaurants and shops to art galleries and theatre productions, the town keeps locals amused. Plenty of family-friendly activities and highly-rated schools are also available for the little ones.
If you’re considering investing in McMinnville rental property, now is a great time. The housing market stands in great health as plenty of tenants move to McMinnville to experience its small-town feel. Rental properties are still very affordable, with median rent per month costing $864. This is attractive for potential tenants who want to live within drivable distance to Portland without the expenses.
In fact, 42% of residents living in McMinnville are renters. This percentage is expected to continue increasing as many young commuters move into the town.
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