As far as the neighborhoods I think they present a significant value in today's market. The "Condo's" which are in the north central portion of the property cannot qualify for "conventional" OR FHA as one entity owns many of the units and the ratio of investor's to homeowners is tipped TOO far to the investor. One of the complexes, it was rumored, was going to split off as it was owned by a large investor who didn't enjoy paying the HOA monthly dues. Also, the finances of the HOA have been disapproved by many of the offers we had on our listings whcih were all bank owned through BofA.
However the Single family dwellings on the south wide have a great community feel and remind me of the "French Quarter of New Orleans. Some of granny units and are great extended member family units. However, if homeowners are not dominant in a occupation position you may see signs of decline as renters just don't keep the property up as a homeowners. And some investors, strung out with multiple properties, may not keep the units in decent shape. A few caveats for you. Elsie Allen HS is a very diverse high school with many cultures represented in the student mix. Hence the reason for the test scores. However, it is a vital, dynamic school.
My peers reccomend the NE,SE schools of Santa Rosa. You can visit any number of school sites to get scores on the charter and public schools. Good luck!