Look at this, Flip like 2004-2006 period, before RE downturn

https://www.redfin.com/CA/Santa-Clara/1081-Portola-Ave-95050/home/681639

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Effective cap rate is 2.55% assuming someone wants to pay full price for it. 0% vacancy is assumed. Redwood City, San Carlos one can get as good or better return.
Another 39 days they will reduce the price.

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