When buying or owning a rental property in Downtown Orlando, Florida, location is essential to reap the benefits of owning a successful long-term rental property in Orlando. Unfortunately, investing in a rental property in an undesired neighborhood that prospective renters don’t want to live in will have a less than average return on your investment.
When investing in any major metropolitan city like Orlando, Florida, the capital you’re going to have to put down is going to be much more than if you purchased a rental property out in the sticks of town. Therefore, knowing the specific neighborhoods in Downtown Orlando to be purchasing a rental property will be hugely beneficial to the success of your investment.
Out of state and local real estate investors are seeing huge gains investing in a Boom City like Downtown Orlando Florida. Which leads us to the question – What are the Best Downtown Orlando Neighborhoods to Buy a Rental Property?
Location, Location, Location: For Downtown Orlando Rentals
A key attribute to a successful rental property in Downtown Orlando is the lease-ability of the rental property. Three blocks north or five streets can be a make or break in the Downtown Orlando rental market. We’ve seen firsthand when managing and leasing rental properties in Downtown Orlando Florida that you can have two equally comparable rental homes that produce entirely different returns. Rental property in a specific Downtown Orlando neighborhood can be a property that leases in under 30 days or a rental property that takes 60 to 90 days to rent.
As a professional property management company located in Downtown Orlando, we know the neighborhoods like it’s our job, oh wait… it is. Leasing and managing rental properties in Downtown Orlando is what we do daily.
Here are the neighborhoods of Downtown Orlando you should keep your eye on when investing in the Downtown Orlando rental market. These are the nook and cranny areas of downtown Orlando prospective tenants want to live.
- Lake Como
- Lawson/Fern Creek
- Baldwin Park
- Colonialtown North
- Winter Park
- Sodo District (Delaney Park, Lake Davis, Lake Cherokee, Lake Weldona, Lancaster Park, and Wadeview Park)
Zip Codes To Look Out For in Downtown Orlando, Florida:
Where should you search for Downtown Orlando zip codes when Buying a Downtown Orlando rental property?
- Lake Como: 32803
- Lawson/Fern Creek: 32806
- Baldwin Park: 32814
- Colonialtown North: 32803
- Winter Park, Florida: 32792
- Sodo District – (Delaney Park, Lake Davis, Lake Cherokee, Lake Weldona, Lancaster Park, and Wadeview Park): 32806
Top 6 Downtown Orlando Neighborhoods for Purchasing an Investment Property:
1. Lake Como
- Lake Como in Downtown Orlando Florida is in the Zip Code 32803. According to Niche, Lake Como is ranked #6 Neighborhood In Orlando to buy a home, and the same goes for buying and owning a rental property.
- Lake Como’s population is 3,305, with an A Rating according to Niche. Lake Como is notorious for walkability featuring numerous coffee shops, restaurants, and bars.
Real Estate in Lake Como:
- The Lake Como area is desirable for many homeowners because of its charming streets and excellent location. According to Realtor.com, the median sold price for homes is 372.8K.
- In the Lake Como area, you can expect higher-priced homes than in many other areas of Orlando.
Lake Como Rental Information:
- With such low rental home inventory in Lake Como, rental property owners can rent their property for top dollar and have a solid investment property. Renting your home and having a professional Downtown Orlando property management company allows you to have quality tenants, a high rental rate, and investment appreciation.
2. Lawson/Fern Creek
- Lawson/Fern Creek is known for being one of the best areas in Orange county for owning and or renting a home and is located a little off the beaten path of “Downtown Orlando” in zip code 32806.
- According to Niche, the neighborhood has an A+ rating, with a current population of 2,342 people; many residents own their homes in this Downtown Orlando neighborhood.
Real Estate in Lawsona/Fern Creek:
- There are currently only a few active and available properties to purchase in Lawsona/Fern Creek. According to Realtor.com, on average, homes sales range from $314K-$1.1M.
- This smaller neighborhood in Downtown Orlando is higher priced than other areas in Orlando. However, if you are looking for an investment property in this area, you can still find a relatively low-priced property.
Lawsona/Fern Creek Rental Information:
- Prospective renters are looking and seeking rental homes in this area. It is rare to find a rental home in this downtown Orlando neighborhood due to the many owner-occupied dwellings.
- According to Zumper, the average 3-bedroom apartment home is around $1,900/mth, an impressive year-over-year rental rate increase of 27%.
3. Baldwin Park
- Baldwin Park is ranked #7 Best Neighborhoods to Raise a Family in Orlando. With 15,616, the Orlando neighborhood features a suburban mix and endless walking, cycling, shopping, restaurants, and coffee shops.
- Many new residents moving to Orlando often seek Baldwin Park as their future home. This is understandable because it is a small storybook neighborhood.
Real Estate in Baldwin Park:
- Baldwin Park real estate is highly sought after, and according to Orlando Regional Realtor Association, there is currently only one home available for sale. It is incredibly competitive to find a home in the Baldwin Park neighborhood.
- According to Realtor.com, the current average selling price for a home in Baldwin Park is $584.3K.
- Real estate prices have increased 15%, Realtor.com has this neighborhood as a hot market.
Baldwin Park Rental Information:
- As a professional Baldwin Park property management company, we have prospective renters constantly asking if we have any available rental homes in Baldwin Park. This area is highly sought after due to its location and community features.
- Baldwin Park allows rental property owners to expand their rental rates and have a steady rental income with continued rental property appreciation. We love the Baldwin Park area here at The Listing because it attracts high-quality tenants.
- According to Zumper, the median rental price for a three-bedroom home in Baldwin Park is $3,150/mth with a 23% Year-Over-Year increase.
4. Colonialtown North
- Colonialtown North is #13 for Best Neighborhoods to Live in Orlando, according to Niche. Located in the 32803 zip code, this neighborhood in Downtown Orlando has a population of 4,151.
- Colonialtown North is famous for young professionals residing in this area due to a short drive or walking to East Colonial or Downtown Orlando. Occupants in the Colonialtown North neighborhood enjoy being close to Downtown Orlando parks, restaurants, and downtown Orlando nightlife.
Real Estate in Colonialtown North:
- Colonialtown in Downtown Orlando is known for its mid-century artistic bungalows. According to RocketHomes, the median sold price for Colonialtown North is $390K, which is a 14.7% increase over the past year.
- We love the homes in the Colonialtown North downtown neighborhood because you can still find excellent rental properties that can serve as a safe and secure investment.
Colonialtown North Rental Information:
- Colonialtown North in Downtown Orlando features block-style or bungalow-style rental homes. The rental market in Colonialtown North is solid and rental homes do not last long on the market. We see rent-ready homes in the Downtown and Colonialtown North frequently lease in under 30 days.
5. Winter Park
- Winter Park, Florida, is slightly further than many of these other Downtown Orlando Neighborhoods, but it should be stated as an honorable mention. Prospective renters and homeowners seek the Winter Park, Florida, area for shopping, dining, and entertainment.
- As an honorable mention, Winter Park, according to Niche, is ranked #3 best suburbs to live in Orlando, Florida. Winter Park is an excellent area and recommended year after year on our Top 5 Orlando Areas To Buy A Rental Property.
Real Estate In Winter Park:
- In general, you can expect higher real estate prices in the Winter Park, Florida, area. Real Estate prices in Winter Park are more elevated than surrounding Orlando areas, although, along with higher prices, rental rates and asset appreciation will continue to increase.
- According to Realtor.com, the average home sales price is just over 400K.
Winter Park Rental Market Information:
- At The Listing Real Estate Management, we enjoy being a Winter Park Property Management Company. We enjoy servicing this area because the Winter Park region attracts high-quality tenants, increasing year-over-year rental rates.
- With high listing and sales prices – rental rates are very high. According to Zumper, the average rental rate for a 3 Bedroom home in Winter Park, Florida, is $2,295/mth, much higher than the surrounding Orlando area.
- As property managers in Winter Park, Florida, we see significant rental increases every year. Real estate investors and rental homeowners in Winter Park, Florida, allow their property and appreciation to work for them.
6. SoDo District/Delaney Park
- SoDo District and Delaney Park are southeast of Downtown Orlando, consisting of small neighborhoods such as Lake Davis, Lake Cherokee, Lake Weldona, Lancaster Park, and Wadeview Park.
- The City of Orlando describes this district best, “Orlando residents have come together to revitalize Orange Avenue and Michigan Street corridors to celebrate the vibrant community in Downtown Orlando where people live, shop, work and play.
- The neighborhood in Downtown Orlando that makes up the SoDo District has a population of 27,661 people, featuring 12,271 housing units, according to Point2homes.
SoDo/Delaney Park Real Estate:
- Real estate in the SoDo District and Delaney Park is higher than surrounding Orlando neighborhoods. Prices are higher due to the ease of being nestled near Downtown Orlando, Florida.
- The 32806 zip code of SoDo features real estate prices ranging from 1M+ to 275K. There is a broader range of home sales in this area, from new construction to older block-style fixer-uppers.
SoDo/Delaney Park Rental Market Information:
- The Sodo/Delaney Park area is great for owning and buying a rental home. We see younger professionals and new families flocking to this area of town. If you purchase a rental house in this Downtown Orlando neighborhood, you’ll see a high rental rate and overtime rental property value appreciation.
- Here at The Listing Real Estate Management, a property management company located in Downtown Orlando, Florida, we love this area to find highly qualified tenants and rent our clients rental homes in the Downtown and SoDo district. It truly is a vibrant area for owning a rental property.
- According to RentCafe, the average rental rate for a Downtown Orlando Apartment or Rental home is $1,733/mth.
Property Management in Orlando Fuels Your Success
Suppose you are not familiar with Downtown Orlando Neighborhoods or the Greater Orlando area. In that case, it may be beneficial to contact a professional property management company in Orlando, Florida.
Orlando property managers will be able to provide insight into which Downtown Orlando neighborhoods work best for your investment strategy. For example, if you are looking for a cheaper-priced investment property, they will be able to tell you which area works best for lower-priced rental properties.
Property managers in Orlando will also be able to begin managing the rental property once you close on the property. So essentially, your property manager is your best friend if you are unfamiliar with the Orlando rental market.
Orlando Property Management Summary in Downtown Orlando
Owning a rental property in Downtown Orlando, Florida, will be a secure investment strategy for years to come. Heck, Orlando, in general, will be a safe place to own a rental home. Still, these six neighborhoods won’t disappoint if you are specifically looking to purchase a rental property downtown.
As your trusted downtown Orlando property management company, we manage downtown Orlando single-family homes, townhomes, condos, and multifamily properties downtown and throughout Central Florida. Contact us today if you look for a secure rental investment property in Downtown Orlando or surrounding Orlando areas.
Are you looking for property management services? We are a full-service property management company servicing the Orlando and Central Florida area. Cheers!
