Don't have actual data, but I feel that in your city there are p

2nd hand that depresses the price of new built homes, so the potential of appreciation is questionable.

1 and 2 are evidently in the process of being down graded into a mix of owner-occupied and renter-occupied.

If there is no significant appreciation potential (say at least 30% in 5 years) the rent is just not attractive.

These three houses are just market value houses, not at deep discount.