Rental property in Parkdale, McCauley, and Spruce Avenue

Guyserbun007 · 23-07-2012, 08:54 PM

Hi, I am going to buy a rental property in one of these regions. Will it be a good investment? How much appreciation rate I should be expecting? What are the pros and cons of each of these region? And most importantly, will I face a difficult time finding tenants, or good tenants (full time worker or students)? Thanks.

240GLT · 24-07-2012, 11:41 AM

^ for Parkdale, There are a lot of university students in the area as well as downtown workers becuase of the close proximity to LRT and buses. It's also good for people who don't drive becuase there are a good amount of ammenities that you can walk to. As for appreciation, can't really say but my house has appreciated by about 140% since 2005.. not a bad return, although that has slowed down city wide. There is a lot of infill and investment going on in the area which has definitely had a positive impact.

One thing that an owner of two houses in our area has done to try and attract good renters is allow pets... pet friendly landlords are really hard to find in this city, and this owner has found that allowing pets has resulted in a high calibre of renter for his properties. Just a thought.

Guyserbun007 · 25-07-2012, 07:56 AM

Thanks for the tips. And would you consider Parkdale to be a significantly safer neightborhood than the other two? Do you know if tenants consider that as a deciding factor when choosing a place to rent?

sundance · 25-07-2012, 08:21 AM

Parkdale has improved a lot over the past few years since they opened the Sobey's on 112th and 82nd.

EPS does keep stats and you can create crime maps of the neighborhoods at this site;
http://crimemapping.edmontonpolice.ca/

240GLT · 25-07-2012, 08:33 AM

Quote:

Originally Posted by Guyserbun007

Thanks for the tips. And would you consider Parkdale to be a significantly safer neightborhood than the other two? Do you know if tenants place consider that as an deciding factor when choosing a place to rent?

I'd think that Parkdale is about as safe as any central neighborhood... yes there are occasional issues but by and large it is safe by any measure. I won't compare my neighborhood to the other two as I don't live in either of those areas. I'm sure that tenants have a wide variety of reasons to live where they do.... however from what I've seen if you have a nice place that is kept up and you screen your tenants you can get very good renters. If you buy an old shack and are less than discriminating about who lives there, you are almost certainly going to have issues, not this least of which being the neighbors not tolerating that type of behavior and having your property blacklisted by the EPS

Guyserbun007 · 25-07-2012, 08:35 AM

Yes Sundance, that was the site that led me to ask the question. I am currently out of town but will be in Sept, I don't know how the data really translates in turns of quality of life and peace of mind. If most of these crimes took place at night and to people somehow exposed themselves in these situations, I wouldn't worry too much, but if it can happen to anyone any time, I would be a bit concerned.

Guyserbun007 · 25-07-2012, 08:45 AM

Thanks for the explanation GLT.

I am also in a dilemma in choosing between buying a house with many rooms with shared common areas such as kitchen and washrooms OR a roomy house that is separated private suites (3-4). The pros for the former is that since I will be living in one of the rooms, I can keep my eyes on the cleaniness and maintenance of my property. But the advantage of having individual suites will be privacy and will attract tenants who don't want to share with other people. For the latter though, there is a concern when selling, because when the house is converted into individual suites, buyers who want a single-family house will turn away.

23-07-2012, 08:54 PM	#1
Guyserbun007 First One is Always Free Join Date: Jun 2012	Rental property in Parkdale, McCauley, and Spruce Avenue Hi, I am going to buy a rental property in one of these regions. Will it be a good investment? How much appreciation rate I should be expecting? What are the pros and cons of each of these region? And most importantly, will I face a difficult time finding tenants, or good tenants (full time worker or students)? Thanks.

24-07-2012, 11:41 AM	#2
240GLT Addicted to C2E Join Date: Aug 2007 Location: North central	^ for Parkdale, There are a lot of university students in the area as well as downtown workers becuase of the close proximity to LRT and buses. It's also good for people who don't drive becuase there are a good amount of ammenities that you can walk to. As for appreciation, can't really say but my house has appreciated by about 140% since 2005.. not a bad return, although that has slowed down city wide. There is a lot of infill and investment going on in the area which has definitely had a positive impact. One thing that an owner of two houses in our area has done to try and attract good renters is allow pets... pet friendly landlords are really hard to find in this city, and this owner has found that allowing pets has resulted in a high calibre of renter for his properties. Just a thought. __________________ Parkdale

25-07-2012, 07:56 AM	#3
Guyserbun007 First One is Always Free Join Date: Jun 2012	Thanks for the tips. And would you consider Parkdale to be a significantly safer neightborhood than the other two? Do you know if tenants consider that as a deciding factor when choosing a place to rent? Last edited by Guyserbun007; 25-07-2012 at 08:30 AM..

25-07-2012, 08:21 AM	#4
sundance Addicted to C2E Join Date: Mar 2007 Location: City of Champions	Parkdale has improved a lot over the past few years since they opened the Sobey's on 112th and 82nd. EPS does keep stats and you can create crime maps of the neighborhoods at this site; http://crimemapping.edmontonpolice.ca/

25-07-2012, 08:35 AM	#6
Guyserbun007 First One is Always Free Join Date: Jun 2012	Yes Sundance, that was the site that led me to ask the question. I am currently out of town but will be in Sept, I don't know how the data really translates in turns of quality of life and peace of mind. If most of these crimes took place at night and to people somehow exposed themselves in these situations, I wouldn't worry too much, but if it can happen to anyone any time, I would be a bit concerned.

25-07-2012, 08:45 AM	#7
Guyserbun007 First One is Always Free Join Date: Jun 2012	Thanks for the explanation GLT. I am also in a dilemma in choosing between buying a house with many rooms with shared common areas such as kitchen and washrooms OR a roomy house that is separated private suites (3-4). The pros for the former is that since I will be living in one of the rooms, I can keep my eyes on the cleaniness and maintenance of my property. But the advantage of having individual suites will be privacy and will attract tenants who don't want to share with other people. For the latter though, there is a concern when selling, because when the house is converted into individual suites, buyers who want a single-family house will turn away.