Home Buying in Newark>Question Details

Shibani, Home Buyer in Brentwood, CA

What is a good price range for a 3/2 home in the Tri-City area? Looking for long term investment in a safe easy to rent area.

Asked by Shibani, Brentwood, CA Tue Nov 26, 2013

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6
Go over pricing with your Realtor, ask them for a CMA on your home.
0 votes Thank Flag Link Thu Nov 28, 2013
Hi Shibani,

"What is a good price range for a 3/2 home in the Tri-City area?"

I suppose the answer to this question is how much you can qualify for if you intend to finance the investment and/or how much of your cash you want to spend. If you need a referral to identify your purchasing capability contact me offline. In any case, once this number is identified you can have your Realtor® set up an automated MLS search Agent in order to monitor for properties as they become available and those that meet your budget and target areas.

You can search on your own; however, if you are serious about your plans you would only be reducing your effectiveness.
See: MLS Data Accuracy – Where to search if you’re “without Realtor®”
http://tinyurl.com/ctr4d44


"Looking for long term investment in a safe easy to rent area."

The standard of identifying a "safe" area is in the eye of the researcher, and then, the prospective Tenant. Here's a good tool you can use to find a "safe" area: http://www.crimereports.com

Once you enter a property address go to the "Advanced Search" tab to select what type of information is important to you. Next, choose the duration of time you want to look at under "Date Range" (now limited to a 6-month view).

You can also try these alternate crime reporting sites: http://tinyurl.com/a34pmyc

I do not know what type of renters you personally prefer (with or without school age children); however, there is correlation with School API scores and property value, so here's a tool for Schools as well: http://www.SchoolAndHousing.com

Based on property address, this site provides attendance area schools (Public, Private and Daycares) along with useful statistics and other information you should appreciate. They also have a cellphone mobile application, which is quite handy when you are viewing homes! Just access the website on your mobile phone to download the app. NOTE: Before making an offer on a property call the School District to CONFIRM the schools the property will feed to!


-Steve
0 votes Thank Flag Link Thu Nov 28, 2013
Shibani,

How much cash-on-cash return are you looking for? Are you planning to buy with all cash, hard money or loan? It all depends on all these numbers to see if these are the good area for you or some other near by cities.

I work with investors, so let us know what's your goal so that we can help you accordingly.

Blaison Samuel
Certified Investor Agent Specialist
0 votes Thank Flag Link Tue Nov 26, 2013
Hi Shibani,

Really it all depends on the area you want to live in. Area's like the Mission district in Fremont will be more expensive than homes next to Thornton Ave. in Newark. I can see that others have given you some samples of homes for sale, and those are good but I agree with him when he says that you can probably get them for less. The easiest way, I think, is to find a search engine that will allow you to see what you want, and put in search criteria that is relevant to you so you can get a more accurate estimate. I have attached a link below that will allow you to do that, and it will give you all the homes for sale with the parameters you are looking for. Good luck I'm sure you will find the home that works best for you.

https://adammodzeleski.realscout.com/categories

Thanks
Adam
0 votes Thank Flag Link Tue Nov 26, 2013
Just type in the home you are trying to compare your price to in trulia and it will give you the average for sales and solds in the area.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Tue Nov 26, 2013
Hi there,

When looking at all of the active Tri-city area as our sample size, the average list price is $649,000 or $425.25/sqft. You can probably do better, but these are the averages since your search is broad. My evidence for this is found below. If you want more info, please visit my website and reach out to me.

CMA Summary Report
High Low Average Median CMA Summary Report CMA Summary Report CMA Summary Report
LP: $2,095,000 $324,950 $649,743 $620,000 CMA Summary Report CMA Summary Report CMA Summary Report
SP: $0 $0 $0 $0 CMA Summary Report CMA Summary Report CMA Summary Report
RESIDENTIAL - Active CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report CMA Summary Report
Address BR Bth Price MLS No SqFt DOM LP $/SqFt SP $/SqFt
4380 MOWRY AVE 3 2 $399,950 40638806 996 10 $399,950 $401.56
43372 NEWPORT DR 3 2 $529,000 40633974 1160 41 $529,000 $456.03
3549 Lake Ontario Ave 3 2 $535,000 40634272 1335 51 $535,000 $400.75
40151 Blanchard 3 2 $550,000 40638166 1150 19 $550,000 $478.26
3634 CONGRESS CT 3 3 $579,950 40635340 1800 42 $579,950 $322.19
4124 Doane st 3 2 $580,000 40634263 1032 52 $580,000 $562.02
32980 LAKE MEAD DR 3 2 $588,000 40631256 1459 75 $588,000 $403.02
5570 truman place 3 2 $595,000 40635271 1412 42 $595,000 $421.39
34690 OSAGE RIVER CT 3 2 $620,000 40637372 1523 25 $620,000 $407.09
34871 GLADSTONE PL 3 2 $649,000 40629237 1390 91 $649,000 $466.91
3728 HARLEQUIN TER 3 2 $659,950 40632446 1607 64 $659,950 $410.67
4287 OGDEN DR 3 2 $675,000 40619715 1950 161 $675,000 $346.15
1130 Gilbert Ct 3 2 $680,000 40633057 1421 61 $680,000 $478.54
232 KERRY CMN 3 2 $695,000 40638329 1664 15 $695,000 $417.67
3870 CAROL AVE 3 2 $699,950 40632399 1293 69 $699,950 $541.34
35444 PURCELL PL 3 2 $714,950 40637296 1576 25 $714,950 $453.65
48284 ARCADIAN ST 3 2 $725,000 40639201 1574 5 $725,000 $460.61
3471 DAVENANT CT 3 2 $748,000 40638706 1523 104 $748,000 $491.14
38731 TIERRA ST 3 2 $774,800 40634611 1762 41 $774,800 $439.73
38376 BLACOW RD 3 2 $785,000 40633525 1871 56 $785,000 $419.56
4467 Central ave 3 2 $850,000 40625969 1886 22 $850,000 $450.69
40930 CAMERO PL 3 2 $999,800 40637034 1536 27 $999,800 $650.91
2410 Tecado Terrace 3 3 $2,095,000 40630382 2542 81 $2,095,000 $824.15
4485 Morgan Common 3 3 $698,888 40637730 1922 21 $698,888 $363.63
47651 Mardis Street 3 2 $735,000 40638356 1234 13 $735,000 $595.62
49042 Feather Grass Terrace 3 2 $780,000 40639367 1785 2 $780,000 $436.97
473 D ST 3 2 $625,000 40639481 1324 1 $625,000 $472.05
38440 Logan Drive 3 2 $658,000 40639259 4 $658,000
1916 LOCKWOOD AVE 3 2 $950,000 40639371 1742 4 $950,000 $545.35
36161 CARNATION WAY 3 2 $700,000 40639215 1727 5 $700,000 $405.33
36336 CEDAR BLVD 3 2 $470,000 40638503 1232 13 $470,000 $381.49
6345 POTRERO DR 3 2 $569,000 40632276 1627 70 $569,
0 votes Thank Flag Link Tue Nov 26, 2013
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