Any agents know of any good rental properties on the market now? (Lake Mary: 2013)

[bmw335xi]

I'm looking to buy another rental property, ideally...

1) Under $250,000
2) Not a fixer upper (max of $5,000 in renovations)
3) Cap rate of 6.5% or greater (after property tax, HOA, insurance (if SFR) - based on lowest comparable asking rent)
4) Not in a high crime area

If you know any properties that fit the above whether it is your listing or not, please let me know. If you share the property and I'm interested in taking a tour or making an offer, I will go through you, but I am not looking to be added to an email list and receive 10 properties a week. I'm only interested in properties that fit the above.

Ideal Example:

-Likely closing price of $200,000
-Located in Lake Mary
-Townhouse
-Turn key property
-Monthly HOA of $250
-Annual property tax of $3,000
-Lowest asking monthly rent for the same number of bedrooms/bathrooms/square footage/condition in the development is $1,700

$1,700 - $250 (HOA) - $250 (tax) = $1,200 per month net or $14,400 per year
$14,400 / $200,000 = 0.072
Cap rate = 7.2% ( )

Thanks

[OTownKnight]

Uhhh....a $200k townhouse in Lake Mary that commands $1700 per month in rent? Highly unlikely. Even if you find something like this, expect to drop more than $5k in renovations.

[chopchop0]

I don't think there are many deals like that left anymore. You've to buy was 2010-2013

[bmw335xi]

Yeah so far the best I've found was a condo in Dr Phillips, probably could get it for around 175k with comparable rents starting at $1,450, but if there are any agents that are looking for more business, I'm giving someone a chance. I'll be paying cash. The units I mentioned were selling in the $80-90s back at the bottom.

[idr591]

You can still find single family homes in some of the downtown neighborhoods with that cap rate.