The median price of an existing single-family house, at $276,900, was much higher in June 2018 than it was the year before, according to the National Association of Realtors.
A good sub-market for a value-add play should show a difference of several hundred dollars between the cost of renting a new, luxury apartment and the cost of renting an older unit.
Apartment renters have come to expect green building features like good indoor air quality and energy efficiency, making them more of a requirement in many markets.
