I never thought about low end or high end of an individual property. I have certain criteria which is mainly low cost, rentability to quality tenants, no major crime statistics. I have a 1bed/1 bath I purchased for $79k 9 years ago (Zillow currently values at $150k). It’s a small property, cheap carrying costs, located in the city. The median income in the neighborhood is not high but there are a lot of local amenities within walking distance. I have never had the house empty unless I needed it empty for renovations (and have several inquiries on it even when it’s being rented out already. And I’ve been able to rent it out purely by word-of-mouth from employees at a nearby organization.
I have found my rental “niche”, and I hope to buy my second rental property in the same area. The value of the individual property itself is of less concern to me then all of the other factors, which is cost to maintain/carrying costs, ability to keep it rented, the standard of renters, and marketability.
Sometimes not seeking the most return on rent can save you or even earn you more money, from what I’ve read and possibly experienced. I probably could charge more, but of the three different tenants I’ve had living on the property nobody has stayed any less than two years. And they’ve all been quality tenants, attracted by the lower price.