Home Buying in 94587>Question Details

Uc_buyer, Home Buyer in 94587

Union City bordering Mission Boulevard between Decoto and Whipple

Asked by Uc_buyer, 94587 Sat Nov 21, 2009

I am looking to a buy a SFR in the section of Union City bordering Mission Boulevard between Decoto and Whipple. For e.g. 2nd, 3rd & 4th street. How safe is this location? Is it easy to rent out the house (2Bd/1Ba, approx. 1000sq. ft), if I wish to in future? What would be a typical rent for 2Bd/1Ba in this area?

thanks,
Chris

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Answers

5
Keeping It Real’s answer
Union City is Mexican gang central. If you don't mind shootings, stabbings, robberies or unsolved crime then this is your home. Decoto in particular is the East Palo Alto of the East Bay. 1 Square mile of trouble, especially Mexican gangs, remember not to wear red or blue clothing and not make eye contact because apparently that is justification for the the classy residents to start "representin'"

Just an honest opinion. Before I forget there were 2 shootings resulting in death in a 4 day period.
0 votes Thank Flag Link Tue May 24, 2011
Hi Chris,

Since your question relates to the FUTURE, then before you go any further you need to consult with a mortgage broker about the posture of lenders today. For example, if you are planning to obtain an owner-occupied loan, especially an FHA loan, you need to understand the guidelines as to how long you should live in the property before renting it out and how many properties you can have owner occupied loans on. Rules are tighter today and unless you become really familiar with them your idea could backfire on you.

Now I will assume you have already had that discussion with your lender. In addition to being a long-time real estate broker, I am also a long-time landlord. In considering the purchase of an investment property I suggest to my clients that they ask themselves this question: "What would make me want to live there if I were a tenant?" I also suggest you drive the particular neighborhood in the early morning, then again about dinner time, then again about 10:00 p.m. as that will enlighten you as to parking conditions, loiterers, street lighting, etc.

With real estate prices so low and there being rebates for first time buyers, I am seeing a softening in the rental market. There are more rentals sitting on the market longer and the rental rates have dropped significantly. We used to get $1,200 for a 2 bedroom apartment that is now renting for $950 per month. Craigslist is a good place to do some research by watching listings in your intended area and see what other landlords are asking, what amenitites they offer and how long you see the ad on Craigslist. Generally, a landlord will keep an ad posted until he/she rents the property. Bear in mind, what rents are today may not be what you can expect to get in the future. If they are a couple hundred dollars or more lower can you really afford that? Digging into your pocket to cover negative cash flow may lead to financial disaster. Be careful, Chris. Your idea is good, but your plan needs to be sound and well researched.

Best regards,
Joanne
--
Joanne L. Gardiner, Broker, e-PRO Realtor®
CA Brokers License #00822285
Advantage Realty
Office: 510-429-4800

"You may never know what results come from your action. But if you do nothing, there will be no result." – Mahatma Gandhi
0 votes Thank Flag Link Sun Nov 22, 2009
Hi Chris,

I have a client that just bought a house in that neighborhood. He is also an investor who wants to rent the house and I told him it would rent between $1400-$1500 p/m. I am glad the other agents below also said the same thing.

As far as safe area, it appears to be a safe neighborhood. I have sold a house on 5th st and in that process I used to go there all the time. It seemed quite a decent neighborhood to me. However, I believe that if you are concerned about safety, you should check with the police department.

Meena Gujral
Help-U-Sell Achievers Realty
40083 Mission blvd
Fremont, Ca. 94539
510-279-9580
0 votes Thank Flag Link Sat Nov 21, 2009
I agree with Brian, you should call the Union City Police Dept. for questions about crime statistics in that area. If you are not planning on living there your personal safety is not the issue so I applaud you for looking out for the interest of your potential tenant.

Rent will depend on the condition and amenities of the house, but $1,300-$1,500 seems about right.

If this will be your first experience as a landlord, you might want to seek the help of a professional property manager.
0 votes Thank Flag Link Sat Nov 21, 2009
Congratulations on wanting to buy a home.

Is the "Decoto" area a safe location? You should check with the Union City Police Dept. for there answer.
Is it easy to rent out a home in that area? Yes, unless you are asking to much.
2 bedrm home should rent for approx. $1,300 - 1,500 depending on upgrades, size and condition.

Hope this helps,

Brian Ripp, CRS, GRI
Broker, Notary, Property Management
Check my web site: http://www.BrianRipp.com
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
510-710-4905 cell
510-794-9006 wk
Realtor since 1985
DRE Lic. 00886348
0 votes Thank Flag Link Sat Nov 21, 2009
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