I don’t know as far as rate of return. Location-wise, I’d go Williamsburg, then Barker, then Selwyn. I like the curb appeal of Barker the best but I’ve heard that that side of San Thomas is sketchy.
The GRM (Gross Rent Multiplier) is 21.47 for Williamsburg , 16.40 for Barker , 16.11 for SELWYN.
Lower the GRM, higher the cash flow/investment.
When I review $/sqft, Williamsburg is $435/sqft, Barker is $366/sqft and Selwyn is $519/sqft.
With this Williamsburg goes to the Third position. Naturally on market 90 days.
In addition, Barker & SELWYN lower cost, lower property tax until hold period. But being lower cost, Selvyn may have competition too.
Now, appreciation potential matters. Based on $/sqft, Barker has better potential (in addition WSJ) than Selvyn when entire market goes up (bigger sqft).
If I have full cash, I would prefer first Barker, then Selvyn and I do not prefer Williamsburg !
All these analysis may change when we really visit the home how much work involved based on condition & competition status.
This is just for discussion purpose, sharing my thought process.
But if you are purchasing for income, smaller is better. Renters don’t really care unless it’s too small. And a larger place costs more to maintain / update (think about flooring at $/sq ft).
Buy a duplex if you are aiming for appreciation, buy a four-plex if you are aiming for income.
Selwyn is the best bet…One story is easier to maintain and will have no issues of tenants complaining about upstairs neighbors noise…Besides is lowest grm
Still a 3.5 cap is pretty low…Appreciation is the name of the game…Still 10 caps in the exburbs.
Altough prime properties in Sacramento are now 4 caps…