Roofstock Expands Its Real Estate Marketplace
Into Columbia, S.C.
Single-family rental homes with double-digit returns are now available in this southeastern metro
OAKLAND, Calif., Jun. 5, 2018– Roofstock, the leading investment marketplace for single-family rental (SFR) homes, today announced that it has expanded into Columbia, S.C. Investors can now buy, own and sell SFRs in this southeastern metro on Roofstock’s comprehensive online platform.
“High affordability continues to attract both renters and SFR investors to the Columbia area,” says Gary Beasley, co-founder and CEO of Roofstock.
Two major military installations–Fort Jackson and McEntire Joint National Guard Station–along with jobs in the healthcare and education sectors, fuel local rental demand for Columbia properties, according to a recent Forbes report.
Columbia’s median SFR rents in April 2018 were $1,200 a month, but still affordable compared to the national average of $1,600 per month. Similarly, the median SFR home price of $135,000 in the Columbia metro in April 2018 was 82 percent less expensive than the U.S. median SFR price of $235,000. As an example of SFR affordability in the Columbia area, Roofstock has a 10-property portfoliolisted on its marketplace at an average price of approximately $138,000 per property.
“Inexpensive SFR make the Columbia region an attractive investment market for real estate, as rental yields are considerably higher than they are in more expensive coastal markets, such as the Bay Area and New York,” notes Beasley.
Gross median SFR yields in the Columbia metro are currently 10.7 percent, compared to the national gross median yield of 8.2 percent, according to Roofstock.
Roofstock’s unique real-estate-as-a-service model makes it easy for investors to evaluate and purchase SFR homes online, allowing them to confidently invest in real estate remotely. In fact, the majority of investors who use Roofstock.com to invest in real estate are located more than 1,000 miles away from their primary residence.
Roofstock now has hundreds of cash-flowing SFR SFR homes available in 25 markets around the country, with the addition of Columbia. By year’s end, Roofstock expects to operate in more than 40 markets nationwide.
Roofstock is the leading marketplace for investing in leased single-family rental (SFR) homes. The company provides all of the resources for investors to buy, own and sell real estate online, including data analytics, property management oversight and other tools. Roofstock’s transparent, innovative marketplace empowers everyday investors to own cash-flowing SFRs, diversify their investment portfolios and build long-term wealth through real estate. In 2018, Roofstock reached a milestone with $1 billion in transactions closed on its marketplace and continues to expand its footprint, now offering SFRs for sale in 27 markets nationwide.
Senior Communications Manager, Roofstock