Margin of Safety home, who likes from realestateforums?

Whoever wants to have margin of safety, walk with cash, take this home at a better cost, fix it and turn it

I see $100k in it easy and pay me no Royalty !!!

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Cadillac Drive? :thinking:

I don’t know anything about this part of San Jose. Schools look pretty weak though. How’s it?

East side of San Tomas isn’t as hot as the other side. From the comps, it may sell a bit over $1m after remodel. But you will have to put in $100k to remodel, plus the transaction cost of 5%. It is not worth it in my opinion.

How’s traffic from San Tomas going north in the morning? Say if you have to go to Sunnyvale or Santa Clara for work, how long does it take?

I used to take San Tomas starting from Camden all the way to 101. That was 15 years ago. Traffic was bad then. I heard it is even worse now. The intersection with El Camino Real is always bad. It is a lot slower than Lawrence for sure.

If remodel+carry cost is less than 50k or max 60k, then we can get profit. Assume, remodeled home goes to 1M with 4% commission. Nowadays, realtors are coming with 3.5% level, but 4% workable.

Sale price - Commission = 960k, expenses 60k, then you get 900k.

Instead of 60k, if you happen to spend $100k, profit reduces.

Yes, location school is weak, but still remodeled house will go above 1M, it depends on how good is the remodel.

Many people started to avoid traffic, nearness to Apple, Nvidia, ebay…etc makes it this location. At $788k level, rare to find homes in San Jose.

I used to live nearby on Driftwood dr. One of the areas so far I liked. But, the caveat is that in order for you to live there, you will compete for parking space. One too many rentals nearby, and same as where I live now, people living nearby will look to spread out to find parking space.

Other than that, good location.

I used to live on Loma Verde drive, not far from there. At the time 20 years ago Cadillac drive was home to hookers and gangs. I don’t know if it has improved since then. If it is cheap there is a reason for it.

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No way!

Yes, Cadillac is so full of cars, believe me, impossible to park there at 6 PM. I don’t recall hearing anything serious when I lived over there in 2006-2008

Last year I was looking for a client, round and round I went, no parking. I had to go a mile away to park.

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If this is so, there is no safety, neither margin of safety. It is hard to sell !!!

How about this home locations

https://www.redfin.com/CA/San-Jose/844-Cypress-Ave-95117/home/944829

https://www.redfin.com/CA/San-Jose/Undisclosed-address-95128/home/722855

That explains the long lines of Cadillacs there…

:flushed::stuck_out_tongue_winking_eye:

Jil…I’ve said it many times, those pesky picky buyers lost more than an opportunity to make good $ by not buying in E SanJo. But no! Lots of crime…blah, blah, blah.

Guess what? Only in E SanJo is where you can find a good deal now.

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I am trying to learn where I do not have any knowledge, but no idea to buy anything near future. There are the pockets in san jose, I do not have clear idea, good, bad or ugly !

Since I did not know, I thought 788k is good deal, but looks like it is not.

Those are both in decent areas. I think the one on Clover is better the one on Cypress. They don’t compare with the far west end of San Jose near Cupertino though.

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Looks like things are changed now, this home has become REDFIN HOT HOME

I have expected multiple bids as any home less than 1M considered HOT nowadays

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No kidding: 74 favorites! Did anybody check it out?

It’s a home. It will go higher than expected.

John is correct …San Tomas in the morning heading to Sunnyvale is terrible …slower than lawrence.
I would pick lawrence anyday vs san tomas …traffic atleast moves

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