In 2021, realtors acknowledged Coeur d'Alene as the hottest emerging real estate market in the USA. Today, the city still ranks in the top ten for promising real estate investment destinations.
Couer d'Alene is a major drawcard for vacationers, retirees, and those wanting a quieter life in a beautiful place, making it the perfect choice for real estate investors.
Are you keen to become a property owner in this vibrant and desirable location? Whether you're buying real estate for short- or long-term rentals, location is the main criterion to consider.
These are the best places to start your search for investment properties in Coeur d'Alene.
Downtown Coeur d'Alene
Everyone wants a part of the action in Coeur d'Alene's downtown. This part of the city bustles with opportunities for work and play. It's an appealing mix of historic buildings, shops, restaurants, and galleries.
The city park and lakefront hold eternal appeal for vacationers and residential tenants alike. The tree-lined streets have a small-town, homely feel.
You can expect to pay around $450,000 for investment properties in this bustling part of Coeur d'Alene, and rents are around $2,000 per month for a single-family home.
The Landings
This master-planned community offers a variety of housing options and an average real estate price of $350,000. It's in the northwest part of Coeur d'Alene.
Here, residents can enjoy walking trails, parks, and a community center with tennis, basketball, a sprinkler park, and picnic areas. The Landings is an HOA, and it prohibits rentals for less than six months at a time, but it's a popular choice for active individuals and families.
Fort Grounds
Just to the west of downtown, Fort Grounds is another historic part of town and also part of the Centennial Trail, which is perfect for spring hikes.
You'll also find North Idaho College in this neighborhood, so it's good for earning income from student rentals. Homes in Fort Grounds cost an average of $400,000, and monthly rentals are around $1,300 for an apartment to $3,500 for a large home.
There are many short-term rental homes in this popular neighborhood, which attracts vacationers keen to enjoy the outdoor attractions of Couer d'Alene.
Mill River
Mill River is well-located, close to city amenities and the attractions of downtown, and it's also close to the lake. This makes it a popular place for families and professional people wanting to rent homes.
Property prices in this neighborhood average around $400,000, and rents are between $1,650 and $2,000 for a two bedroom home.
Are you Serious About Real Estate Investing?
Real estate investing is an excellent way to earn extra income and pay your mortgage on a desirable Coeur d'Alene property. It does involve a lot of work if you plan to manage your tenants yourself.
Hiring a professional property management company to take care of your rental properties is the best way to maximize your earnings when you invest in this burgeoning city.
PMI Coeur d'Alene has years of experience in helping astute investors make profitable choices. Let us steer you toward success on your Couer d'Alene investment journey.
