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I am a mom and pop investor with properties in the Boston area. I was thinking of purchasing a condo or townhouse in the DC area. Probably not in DC because of rent control, management requirements, etc. I am looking for suggestions for other desirable areas outside DC that would rent well. I am topping out at about 375k but would rather spend something more like 200k.
If you're looking for specifically outside DC, this is the wrong forum. This is the forum for DC itself. There are separate forums for the suburbs outside DC.
For $200k, you're most likely looking at the studio apartment market in popular neighborhoods (well, a lot of studio apartments go for $300k or more in nice neighborhoods, but you can find cheaper ones) or the 1-bedroom market in less popular neighborhoods.
You won't have any rent control issues in DC proper for the price range you can afford. I agree that Hyattsville is a good option. Anywhere near transit, really. The Silver Line is about to open out near Tyson's Corner and I know properties in that area have already started to climb in value in anticipation of having transit.
I am looking for suggestions for other desirable areas outside DC that would rent well. I am topping out at about 375k but would rather spend something more like 200k.
Northern Virginia near the military bases, eq Quantico or Fort Belvoir. But you ought have a property mangement firm handle it.
You need to be more specific about they type of people are you looking to rent to: Families? Yuppies? College kids?
Be more specific. The DC area is tricky.. even for people who know it well.
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