Marcus & wuqijun,
Sorry, my mistake I did not read “Income restrictions”. You are right ! BMR !
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this is in “Adult Village” - at least one occupant needs to be 55+. Owner can be of any age. You’re right on the rent though. I could’ve bought some of these a few years back for $200k and decided against it… sure won’t pay $350k now.
It’s a clean little neighborhood.
OMG, Adult Village is restricted ! Thank you.
Just for everyone info
The above home had more than 10 offers and overbid touched around 100k level (not sure exact amount) !
Isn’t it subject to flooding, alas once in 100 or 500 years, I can’t figure out from FEMA map:
http://cityofwatsonville.org/public-works-utilities/emergency-storm-preparation/where-will-it-flood-in-watsonville
This is a good triplex in Vallejo from wuqijun’s list. Good cash flow, an old building though
Actually I was advertising some low end condos in Vallejo for under $200k. Frankly for $650k one can buy something in a better neighborhood, no need to go all the way to Vallejo for that. But beauty is always in the eyes of the beholder, so if you like it, go for it！
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This is a good short sale under 300k, not sure if the bank will approve this price
Bank will never approve any home less than current appraisal price !
So the lender will end up asking for more but maybe not by much… so should sell for around 325-330k or so.
@wuqijun why condos and not SFH? Price point is low? I dont like the 400 HOA on these tiny 1 beds. If they are renting for 1550, with HOA and PITI you are at 1500 (20% down)[quote=“wuqijun, post:13, topic:2089”]
Concord:
Is the consensus for investing in BA for cashflow is concord, pittsburg, antioch, oakley etc.
What is impact of the new BART line and stattion in central pittsburg. Will it make a difference in 1-2 years?
That’s right. Concord is always break even only. Don’t even try to derive positive cash flow from Concord.
Pittsburg/Antioch/Oakley used to be positive cash flow but they are fast breaking even with rising home values.
Right now the only real cash cow option is in the North Bay: Vallejo and Fairfield.