An area close to major employers, the university, or a hospital tends to keep occupancy high because renters have a reason to stay close, but older housing stock in those same areas usually needs more upkeep sooner, from roofing to mechanical systems within the first 10 to 15 years of ownership. A newer suburb trades that lower maintenance for a smaller, more distant renter pool, so vacancy risk shifts from repair bills to time-on-market for the unit itself.
Whichever area you pick, legality decides more of the return than location does. The City of Saskatoon requires a secondary suite to be permitted before its rent can be underwritten by a lender, and that single fact changes a property's real value more than which street it sits on.
Joel Dyck helps investors compare specific properties on cash flow and legal suite status rather than a neighbourhood's reputation alone. Get your hand-reviewed valuation from Joel Dyck.