airbnb property for sale Kent City Center WA
Vastly known as the cultural center in Washington, Kent City has a family-friendly vibe with plenty of options for cafes, restaurants, and museums. It also features exciting entertainment activities which attract numerous tourists to the Washington State Fair!
Since there are great universities in Kent City, it is also a haven for property investors who cater student accommodations. However, it’s still recommended to learn about buying a property for Airbnb in order to make sure that it’s profitable. To begin with, it’s certainly important to consider the major costs and revenue before deciding to purchase a property in Kent. Another excellent option is to do rental arbitrage in Kent City as it’s fairly popular and does not require you to purchase a property.
Redfin confirms that the Kent Housing Market is extremely competitive and has increased by 3.5% in comparison to last year where the median price of homes are priced at $595K.
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“The median list price of homes in Kent, WA was $629,000 in October 2022, compared to $794,950 in 2021. Kent City was a seller’s market October 2022, which means that there are more people looking to buy than there are homes available.”
– Movoto Real Estate Insights on Kent Market
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment in Kent, property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Kent City Center?
Using an Airbnb estimator, it was discovered that a 2-bedroom apartment in Kent City Centre can generate an annual revenue of $43,399 with a steady occupancy rate of 82% and a nightly rate of $131.
airbnb property for sale Kent City Center WA
Newly Constructed Houses For Sale in Kent City Centre
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Kent City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
2331 E Market St Apt 221, Akron, OH 44312
1. Studio-type Property for Sale Kent
0.6 miles Tunbridge Wells
Asking Price: $65,000
| GROSS RENTAL YIELD | 23.72% |
| ANNUAL REVENUE | $15,421 |
| CASH ON CASH RETURN | 45.41% |
2. 1-Bedroom Property for Sale Kent
Near Colegio La Salle Montermolin
Asking Price: $114,900
| GROSS RENTAL YIELD | 25.10% |
| ANNUAL REVENUE | $28,835 |
| CASH ON CASH RETURN | 49.52% |
2052 Goodyear Blvd, Akron, OH 44305
3. 2-Bedroom Property for Sale Kent
0.6 miles to Seiberling Elementary School
Asking Price: $89,900
| GROSS RENTAL YIELD | 23.32% |
| ANNUAL REVENUE | $20,969 |
| CASH ON CASH RETURN | 44.21% |
408 Valleyview Dr, Kent, OH 44240
4. 3-Bedroom Property for Sale Kent
0.4 miles to Holden Elementary School
Asking Price: $179,900
| GROSS RENTAL YIELD | 25.13% |
| ANNUAL REVENUE | $45,209 |
| CASH ON CASH RETURN | 49.62% |
7671 W Lake Blvd, Kent, OH 44240
5. 4-Bedroom Property for Sale Kent
0.2 miles Brompton Academy
Asking Price: $330,000
| GROSS RENTAL YIELD | 23.81% |
| ANNUAL REVENUE | $78,571 |
| CASH ON CASH RETURN | 45.66% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Kent such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
