The Charleston area has many subdivisions ranging from beach locations to master-planned communities. As a result, Charleston has one of the hottest markets in terms of rental properties.
Now is the time to start growing your investment portfolio to take advantage of the market we currently see. Predictions show that Charleston will see an increase in jobs and housing demands in the area by 30%.
Our Business Development Manager, Christina Smith, is here to discuss with you three locations investors should keep an eye on, especially in the Summerville area of Charleston.
Nexton is located in Summerville, South Carolina and was recently named the 2021 Master Planned Community of the Year by the National Association of Home Builders. Nexton has truly become the place to be in Charleston, whether that means it’s the place you call home, work or adventure on the weekends.
One of the greatest things about Nexton that we see, not only for investors but also renters alike, is all the different amenities that Nexton offers. There are numerous wellness centers, community pools, restaurants and more! Nexton is still a growing community which means new builds are very common. Renters historically flock to homes that are new construction for numerous different reasons.
All of these items add to the total return on investment you can expect to see from your investment property. Properties in Nexton are within the midrange, anywhere between $300,000 to $800,000. For investors, the key to Nexton is the premium renters will pay to live in Nexton. This results in reaching a higher return on your investment.
Cane Bay Plantation
Cane Bay Plantation located in Summerville, South Carolina, is a growing community found right in the middle of Berkeley County. Berkeley County is the fastest-growing county in the state. In addition, the US Census Bureau has ranked Berkeley County as the 17th fastest growing county in the United States.
Some of the biggest draws to Cane Bay for renters are the schools, shops, restaurants and more! As an investor, you are looking to buy closer to the high $200,000 all the way up to the high $600,000. Rental rates are key in this subdivision. As of June 2021, rental rates were going anywhere from $1,600 all the way up to $2,900 a month. Cane Bay allows investors to optimize their passive income and financial goals.
Jedburg is a suburban neighborhood located in Summerville, South Carolina. The properties in Jedburg are mostly three or four-bedroom single-family homes with mobile homes as well. These properties are on the newer side with new builds starting up in the 2000s.
For investors, the most notable pro to investing in Jedburg is the booming industrial growth we are currently seeing. Some businesses that already reside here are Volvo, Mercedes, Google and more are to come. In addition, industrial development is causing a massive influx in housing needs. Therefore, it is essential as an investor to keep an in on industrial growth because industrial growth will always come from potential renters.
Looking to learn more about the Summerville investment property journey? Our team is ready to help you, and we are ready for your call!