Pasco great buy for rental investors

Looking for that best return on a rental property? Then turn your eyes up north.

A new report from RealtyTrac says both Pasco and Hernando counties are among the nation's best when it comes to rental returns on single-family homes.

Both counties see an annual cash flow of more than $14,000 after tax and insurance, according to the real estate data company's report, generating an annual gross yield of 17.86%. That's right behind Philadelphia County, with a gross yield of 18.78%, and just five other counties in Michigan, Virginia, Maryland and Georgia.

The best rental buy was in Clayton County inside the Atlanta metro area, where annual cash flow is a little more than $13,700, and gross yield is 25.83%.

When it comes to Millennials, however, Hillsborough was the county of choice for rental property investors locally, where more than 23% of the population is younger than 37, generating an annual gross yield of 11.21%.

RealtyTrac analyzed median sales prices for single-family homes and condominiums, and average fair market rents for three-bedroom properties, to generate the report. The company also looked at unemployment rates and demographic trends across 516 counties in the United States, where 76% of the total national population lives.