Home Buying in 95391>Question Details

Coquikokee, Home Buyer in Fremont, CA

How is the rental market in Tracy and Mountain House areas?

Asked by Coquikokee, Fremont, CA Sat Nov 28, 2009

I am interested in getting a rental property, but not sure if the rental markets there are too soft. I know someone who lives in Tracy, but he is not even positive about recommending getting an investment home in Tracy.

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Answers

5
Due to the value drops in those areas over the past few years it has become a prime area for investment, and home ownership. The influx of short sales and foreclosures in those areas though have led to making them also prime areas for rentals since some of those home owners are now becoming renters.. Since the rental markets in the Tri Valley are averaging $2000/month on the low end and the average rent in Tracy/Mountain House is about $1500, it's a $500 savings to the renter. Now the location also falls into play as some of the newer 4+bd/2+bth homes can rival the lower end markets in Dublin/Livermore, and with the expansion of lanes on 580 people are still viewing Tracy/Mountain House as viable areas for living. The newer homes built in 2000+ will rent faster then the older community you find near downtown Tracy, but the single family homes to the west of 11th street also have a lot of appeal.
0 votes Thank Flag Link Wed Jun 29, 2011
I am a property manager in both those areas, and both rent pretty well. Mountain house has a bit higher rents and is bit closer to Livermore and eastbay areas. The only thing in Tracy is where the home is located.
0 votes Thank Flag Link Fri Jun 10, 2011
If you're buying a SS in mountain house, our realtor short sale our house and negotiated our rental agreement for us with the landlord (new owner).
0 votes Thank Flag Link Thu Mar 18, 2010
C,

Ken is right. I've found that the rental market in Mt House is pretty good. Not too sure about Tracy. What is your price range? Have you looked at a cash flow model? let me know if I can help.

Happy new Year!

Tony
0 votes Thank Flag Link Thu Dec 31, 2009
My client closed a deal in Mountain House and was able to rent it in 3 days. He had 4 to 5 peopel show interest and rented to a person who did the rental application first. He is closing another house in the next 10 days. I will update how that goes. My research shows, one should be able to rent it in a month if they have the flexibility to adjust to market dynamics.
0 votes Thank Flag Link Sun Dec 6, 2009
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