As someone who owns three houses in downtown Monaca, I’ve never been very shy about talking up the town. For my money, you just can’t beat our perfect combination of location and price. Everything in Beaver County is just a short drive away, and thanks to the low cost of living, you can actually afford to go out and do things!
I’m definitely not an expert when it comes to real estate, but I’ve been through the process a few times now and seem to have a knack for getting decent deals in downtown Monaca. So for those of you who have asked me what i think about investing in a rental property, here are three that I think are interesting.
120 4th Street
This cute little house over by the boat dock is currently listed for only $65,000, and it includes the most important thing I look for in a rental: it’s not trashed. Actually, it appears to be pretty clean and looks well-maintained.
As someone who recently purchased a rental property in downtown Monaca for $65,000, I can personally tell you that after about $20k in down payment and closing costs, you’ll be looking at a mortgage, taxes, and insurance payment of less than $500/month.
Also from my experience, you’ll be able to rent this one for $800/month without even trying…which means that I probably could have gotten more like $1,000/month for mine. 🙁
1327 Virginia Avenue
Over on the other side of town there is this nice little 3 bedroom that is right across the street from St. John’s. You’re not going to love the kitchen cabinets in this one, but for only $65k you can redo the entire kitchen and still come out ahead here.
And those rent numbers we just talked about for the two bedroom, well they get even better when you start talking about a three bedroom.
1328 Washington Avenue
Just around the block from the Virginia Ave house is this little two bedroom on Washington Ave. And just like the first house we looked at, this one got my attention because it looks pretty clean inside.
At $69,900, this is the most expensive home of the three we are looking at today, but we’re really just splitting hairs when we talk about and extra $5k over the course of a 15 or 30 year mortgage.
Whether you are looking to buy a starter home for your family or an investment property that will cash flow from day one, Monaca seems to be the place to be. And if you need any help at all, feel free to reach out to me or fill out the form below to make an appointment with my personal real estate agent.