Home Buying in San Pablo>Question Details

Gennady, Other/Just Looking in San Ramon, CA

How hard is it to rent a single family home in San Pablo, CA?

Asked by Gennady, San Ramon, CA Tue Jul 22, 2008

I'm targeting a 3-4 bedrooms house to buy as an investment property and rent it out for NO lower than $1,900. Any advise?

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6
Gennady, we pushing 3-4 bedrooms in San Pablo, new construction for rent at roughlyl 1700/month. I have a triplex getting between 1250 - 1500/ month rents. So depending on your purchasing power, financing, and tenant it could work.
Web Reference: http://www.danielripper.com
1 vote Thank Flag Link Tue Jul 22, 2008
depending on the area, rents are about 1300 - 1700
0 votes Thank Flag Link Mon May 23, 2011
with tougher credit standards, it won't be difficult to find tenants in need of housing. You may want to target people in foreclosure as well for future housing.
0 votes Thank Flag Link Tue Jul 22, 2008
Johnny and Daniel, thanks for jumping on it. I appreciate it. In the end, I'm looking to end up with a positive cash flow and 20% down. The ideal situation, I think, would be to buy a REO property for about $240,000 and rent it for $1900 or buy for $280,000 - $300,000 and rent for $2300.
The question remains though: HOW HARD IS IT TO FIND GOOD RENTERS FOR PROPERTIES LIKE THAT?
0 votes Thank Flag Link Tue Jul 22, 2008
that $340k scenario is the maximum price by the way. I'm not including any other expenses/costs.
0 votes Thank Flag Link Tue Jul 22, 2008
Based on your information, you would find houses for sale at around $340,000 (with a 20% down payment) for that kind of monthly obligation. This figure DOES not include insurance and taxes and assuming a 30 year loan with a 7.5% interest.

According to rentometer.com, the rent rate is decent, in the lower half. It really depends on where the house is located in San Pablo. 3-4 bedroom homes in that area ranges from $200k-350k. Good luck.
0 votes Thank Flag Link Tue Jul 22, 2008
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