San Ramon Investment Property

#1

How’s this for investment property? Asking for 500K and rents for $2,350 according to Zillow.

https://www.zillow.com/homes/9005-Alcosta-Blvd-Apt-204,-San-Ramon,-CA-94583_rb/

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#2

I have been watching them previously, even 3bd,2bh room came for similar location.

High HOA, but similar homes are in good schools area. No further idea on location,

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#3

Yeah, HOA is high at $504.

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#4

Gina Piper seems to be the Jason Chan of the Tri-Valley area.

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#5

Are you sniffing around that area?

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#6

I first heard of Gina when I was looking at a townhome in that area years ago (this was before I bought my primary). That townhome (a 2 br) has since doubled. I went to an open house in SR recently in the Windemere community. Biggest scam on the planet if you don’t have kids. Their property tax rate is ~1.7% because of the infrastructure funding. Total BS. No wonder people sell their homes once their kids are out of school. This investment property is borderline Dublin so you probably don’t have that property tax issue.

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#7

Berkekey and Oakland has the worst property tax. Windermere has a mello roos tax which lasts only 30 years after new construction. It’s a way for the city to recoup infrastructure cost and lower tax for existing owners.

“ New CommunitiesEdit

Many communities requiring new schools or other public infrastructure such as public parks and roads impose Mello-Roos taxes as an alternative to (or in addition to) impact feespaid directly by real estate developers. While real property taxes are generally levied as a percentage of the assessed value of the parcel, a Mello-Roos tax is levied independent of assessed property value (a parcel tax), and is not subject to Proposition 13 property tax rate limitations.[6]

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#8

It’s troubling that some old communities can even approve mello Roos tax to pay for city employees pensions! It requires 2/3 voter approval, but there are too many brain washed naive people here.

They can also renew the existing Mello Roos tax if the homeowners are getting used to higher tax. Some tax payers have the Stockholm syndrome. Even worse, some places have a renter majority and a rent control :money_mouth_face:

“ Many older communities have imposed Mello-Roos taxes on areas that include older homes not previously subject to Mello-Roos taxes. This is done when property tax revenues fall short of what is deemed “necessary” by the local government, or expenditures increase such as from the increased burden resulting from public employee salaries and benefits (including pensions). Many Community Facilities Districts also renew expiring Mello-Roos taxes and increase existing Mello-Roos taxes. Two-thirds (2/3) voter approval is required under Proposition 218 (1996) to increase or extend a Mello-Roos tax.”

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