Consider Congress Park Homes As Investment Properties

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Calling all investors near and far! The Metro Denver area residential rental and vacancy survey was recently released, showing that the overall vacancy rate for the Denver metro area during the fourth quarter of 2010 was 2.0 percent, down from 2.9 percent for the third quarter of 2010. It was 5.5 percent in the fourth quarter of 2009.

A low vacancy rate signals that it is an optimal time to think about purchasing an investment property, since you will have no problem finding tenants for your properties, or charging a premium in rent to move into them.

Once you have determined that you would like to buy an investment property, the next step is to figure out your target neighborhood. It is important to find the right home in an attractive neighborhood, so you will be able to collect the maximum amount of rent possible.

If you are in the Denver area, consider investing in Congress Park homes. Congress Park is an attractive central Denver neighborhood that is bounded by York Street to the west, Colfax Avenue to the west, Colorado Boulevard to the east, and Sixth Avenue to the south.

Congress Park is located in an ideal spot, situated right in between City Park and Cherry Creek. Congress Park residents love being only minutes from downtown Denver's business center and cultural opportunities. Home to 11,000 residents, Congress Park boasts mature trees and perfectly manicured lawns. It has a friendly, community-feel that is often hard to find in urban communities. All of these attributes are very desirable to potential tenants.

Congress Park homes come in all shapes and sizes, including bungalows, Victorians, Denver squares, art deco apartment buildings, and many more. The bulk of Congress Park homes have been extensively rennovated, although the neighborhood's sense of history is maintained.

Congress Park homes range in price from the $100s for condominiums all the way up to near the one million for single-family homes. The average rent in Denver county is $976.00, so if you play your cards right, you may be able to make a profit every month, while seeing an appreciation on your property's value.

As always, before starting out on a real estate journey, please consult with an experienced real estate professional. He or she will guide you through the entire process - from choosing the best property through closing the trasaction. Your real estate professional will be able to help you decide if a potential property would make a solid rental property, including its rental history and the potential ROI for you.

Good luck in your search for an investment property!

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