Anyone went to tour the new houses next to the Great Mall? How’s it?
https://www.redfin.com/CA/Milpitas/851-Pepper-Pl-95035/home/109058246
This 3/3.5/1650 house is asking for 930K. Pretty steep for that area. Does it have any decent size yard? They look pretty crammed together.
@manch what should I say, there is bidding (silent bidding) on these homes, I couldnot believe it.So they are actually going for 980ish. Phase 1 is 40 SFH, Phase 2 is 200 townhomes.
Its cramped, not much yard,
better than a townhome at 950 right? https://www.redfin.com/CA/Milpitas/2031-Trento-Loop-95035/home/109042233
Because of the bart, vta, mall, access to jobs, this area is turning around crazily. already 2000-3000 homes built next to milpitas bart. another 5-7k new homes coming. 4Billlion in total investment by builders. All top builders are there lennar is starting, summerhill is starting. Most of them are condos or townhomes.
A new elementary school, Wholefoods, safeway all in the making. Drive by that area once if you havent already.
Awesome. I did not know about the Whole Foods. They are too expensive as rentals. I like North Milpitas better.
Older townhouses in the same area. 2/1.5/1000 asking for 630K. Only 10 year new.
https://www.redfin.com/CA/Milpitas/198-Parc-Place-Dr-95035/home/1050827
Even that is too expensive as rentals. Crap. Screw the Great Mall.
that might work for a 3k rent. But in general milpitas has become crazy, hence my move to fremont.
Milpitas Smell is also an issue. Good place for rentals.
Zillow said rent is 2800. Redfin said all in expenses is 3200. So -400 cash flow. That’s too much for my taste. I like to keep it at most -200. Plus, it’s only a 2BR. For families that’s not that good a floor plan.
I don’t like these new townhouses that are three stories tall with limited space on each floor. Not old people friendly.
I know. I hate them too…
Maybe something like this: https://www.redfin.com/CA/Milpitas/140-Casper-St-95035/home/1068735?
I know in that area 3/2 bring in at least 3400. I like that area due to proximity to highway. Not sure how much this is going to sell for though.
Zillow says it can rent for $3,295 and expenses is $3,533. So almost exactly -200! 
Assuming it sells for close to list price of course.
How’s that area? I’ve been to that shopping mall a couple times. Used to have a yummy Taiwanese restaurant there. It’s close to the N. San Jose and Santa Clara tech jobs so that’s a big plus.
A few streets by Casper is pretty decent. Good street appeal & very walkable for Groceries and all the restaurants in the mall there. But street close to highway is a big rough. But I think you need to buy flood insurance if you are in that area.
I went to a rental open house next street and was asking $3425 and it went away quickly. I saw a lot of professionals with roommates or young couple with kids. As Google & Apple moving into North San Jose (they leased some space in Dec 2015), I see that area going through transformations due to close proximity and decent schools (8 / 9 / 9).
Exactly my thought. This area and the Sunnyvale area north of 101 I like the best. Numbers can still make sense.
Even townhouses in Milpitas are over 1M now.
https://www.redfin.com/CA/Milpitas/1263-Calle-De-Cuestanada-95035/home/707372
That area is a little bit desirable than the house linked above. Better Elementary, but slightly less Jr. High 8 vs 9. And same high school (only one high school in Milpitas). IMO, South East Area > Calaveras Area > North Dixon Landing.
Should have bid on that Casper house 
Looks like I should look at these areas in reverse order. To get in the path of gentrification. The whole Milpitas will do well I think.
Sold for 800K.
Not bad! With 800K the negative cash flow is manageable. I will closely monitor that area now. Did not notice the elementary school is just across the street. I like houses near elementary schools. I think it’s a big positive for parents.
I don’t know about houses right across from elementary schools; very noisy during the day and tons of cars passing by in the morning/afternoon for dropoff/pickup.
