Home Buying in 94563>Question Details

Tt, Home Buyer in Oakland, CA

How is the rental market in Orinda? I am thinking about buying a house there,rent it out for now. We are planning to move there 6 years later.

Asked by Tt, Oakland, CA Thu Aug 5, 2010

Should we buy now? Thinking about putting $200k down. We are thinking about buying now when the price is lower. I checked the rental listing here at Trulia, some rental listings have been there for more than 40 days. If Orinda is not a good rental market, then where is? Is Castro Valley or Pleasanton a better choice? Our goal is to buy at a good school neighborhood, and be able to rent it out during the meantime. If I bought it at Orinda, how much can I rent a single family home with 3/2 1800SQ for? Thanks for your time and knowledge!

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Hector’s answer
Orinda has one of the best school districts in the state, Saint Mary's College is in Moraga, about 5min from Orinda. Great private college that shares teachers with Stanford and Cal Berkeley. The rental market is strong as long as its fairly priced, a 3 bed/2 bath home in Orinda will rent for $3500 or so.
0 votes Thank Flag Link Sat Dec 8, 2012
Hope you bought in 2010! Market has taken off in the last 3 years
0 votes Thank Flag Link Wed May 7, 2014
Hi, Home Buyer,

I'd say your best chance for maximizing cash flow from an income property would be to buy a home near Saint Mary's College. There tends to be a higher demand for rental homes (as opposed to apartments) near colleges due to faculty sabbatical exchanges. Professors from universities abroad will usually seek a rental home near their sister university. Professors on sabbaticals are also more likely to be able to afford higher monthly rental rates than your average renter due to their job/financial security. Most faculty members who take a sabbatical are very well paid by their respective universities and because sabbaticals are basically a vacation from work, the faculty member will likely seek something in a relaxing environment with comfortable amenities.

Good luck and let me know if you have any other questions.

Kyle Quesnoy
Better Homes & Gardens Real Estate Mason-McDuffie

0 votes Thank Flag Link Fri Oct 28, 2011
The rental market is strong in Orinda, Lafayette and Moraga. There is usually never enough supply for the demand. Having said that, if the average 3/2 with 1800 sq ft sells for $800-$900k(which is down dramatically from the height of the market), with even $200k down you still may not be in a positive cash flow situation when you include taxes and insurance. The average rental price for a single family home like that is $2500-$3000 per month.
Billy Perlstein
Pacific Union-Orinda
925 383-1477
0 votes Thank Flag Link Fri Aug 6, 2010
Hi Home Buyer,
I think that there are better rental markets near Orinda, like Walnut Creek, Danville and even Lafayette, sticking with the best school districts.. I would advise you to go on Craigs List and research what rentals are getting in the area. Any one of us can assist you in making an informed decision about income property. I actually have a rental in Blackhawk and Walnut Creek.
Suzanne Looker
0 votes Thank Flag Link Thu Aug 5, 2010
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