Duvall, Washington is a more rural part of King County with a plethora of schools, parks, and activities, which makes it a prime investment area. Depending on the traffic, Duvall is just 30-50 minutes away from Seattle, which also makes it an ideal location for anyone working in Redmond or Kirkland. Managing and renting property in Duvall, Washington isn’t always easy and that is why we are here to help. Call us at 425.285.1324 to talk about our professional Duvall property management services, including rental management, tenant screening, rent collection, and maintenance.
Buying Investment Property in Duvall, Washington
To find a good investment property in Duvall, Washington you will need to do your research. The average sale price for a home in the city is just above $400,000, which is a hefty price for any single home rental investment. Some units, especially townhouses and connected houses, sell for less. You should also research the area, as Duvall offers both rural and urban areas. Duvall offers many local schools including Cedarcrest High School, Cherry Valley Elementary School, and the Duvall Montessori School. Duvall is also served by over a dozen other schools, so there are a great deal of families in the area which can turn into tenants.
Duvall also offers a variety of entertainment including 19 restaurants, the majority of which are located right along Main Street Northeast, and several bars in the same area. The city’s historic district is also a draw for families and singles who like to shop or who appreciate culture and history. Multiple biking and hiking trails, festivals throughout the year, and a total of twenty local parks also serve to make the area more attractive to renters. Unfortunately, land is at a premium, and typically in high demand, meaning that it is not always a good investment for smaller investors, unless you get a very good deal on a multi-family home, or buy a unit which needs repair. For larger investors, the average house sale prices of $400,000 and up are still intimidating, but multi-family good investment in the area for those investors.
Average Rent Rate in Duvall Washington
4 bed/2 bath, 2,500 square foot single family home – $1,950 – $2,500 depending on location
2 bed/2 bath 1,000 square foot single family condo – $1,000 – $1,450 depending on location
Managing Rental Property in Duvall, Washington
Duvall, Washington is a fair distance from Seattle, so unless you live in Duvall, or don’t mind travelling for one to two hours a day, you need a professional property management company to help out. If you do decide to start managing your rentals yourself, then Washington’s Landlord Tenant Law (Chapter 59.18 RCW) is an invaluable resource for learning landlord tenant law. You can also join the Rental Association of Puget Sound to get tips and help from other landlords. If you choose to hire a property manager, then you can skip those steps, because a good company handles everything from advertising and tenant screening to rent collection and maintenance, so that you don’t have to worry about anything. All you need to do each month is wait for your check to arrive. Depending on your available time, experience as a manager, and how professionally you need your management to be, you may or may not want to hire a property manager.
However, hiring a professional Duvall property manager is a good way to save time, ensure that your units are filled as quickly as possible, and that all of your business is handled as professionally as possible, so that you can get started making a profit as soon as possible. Want to know more? Call us at 425.658.1920 to get a free consultation.