Chike, Both Buyer and Seller in New York, NY

Greenfield, California: is there a good rental market there for single family homes in $1900-2500 range?

Asked by Chike, New York, NY Sun Jun 15, 2008

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Many of the renters and owners paying higher rents are working at CTF/Soledad or Salinas Valley Prison. They are major employers for those cities and can afford those rents; however, you can pay those amounts and own in those areas too.
0 votes Thank Flag Link Sat Jul 7, 2012
As a strictly investment proposition, I would consider the nearby city of Soledad instead of Greenfield. Soledad has a newer shopping center, is 15-minutes closer to Salinas, and has the prisons--guards, nurses and prison personnel are VERY well paid!

Older homes in Soledad can be bought in the $150K range, and could rent for about $1200 at least. Newer (10-year-old) homes go for about $200-250K, and can rent for about $1800-2200.

The reason I would go for an older home over a 10-year-old home is that homes were better built in the 1940s than in the 2000s. By ten years from NOW, there won't be that much difference in the condition of a 1940s home....but a 2001 home will be TWICE AS OLD as it is now, and really starting to show its age.

Call us at (831) 250-8120 if you'd like to talk about home-buying opportunities in different communities of Monterey county....or visit our website http://www.MontereyOnSale.com.
0 votes Thank Flag Link Fri Jul 15, 2011
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