Rentals in Saratoga>Question Details

T. Gail Wels…, Real Estate Pro in St Louis, MO

I am moving to the Bay area from St. Louis in 1-2 years, but i want to buy a house or multi-family unit now. My son lives in Campbell. What would?

Asked by T. Gail Welsch, St Louis, MO Tue Feb 2, 2010

you expect rent to bring for a minimum 2B/3b size place in the area of Campbell and areas surrounding, especially Saratoga? Thank you!

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Tina Lam’s answer
Another site to check out market rent is Zillow. Now they provide rent estimate.

My two cents on your choice of location. The price for an entry level SFR in Saratoga starts at mid $700's and that's not even in the Saratoga school district, compared to only mid $400's for Campbell. You will find that your return for an investment property will be better in Campbell. Beware that Campbell school district has good schools and not so good schools. Pick one that's in the better school area. If you need help on that, I will be happy to assist. Another area I would recommend is Cambrian, San Jose, which is just east of Campbell. They have good school and the starting price is also in the $400's.
0 votes Thank Flag Link Sun May 22, 2011
Hi Gail,

Your answer depends on the exact location, age, size and condition of the home. Rents in Saratoga can under $5000 or well past $10,000 per month depending on the particulars.

Saratoga has 3 school districts: Saratoga Schools, Moreland Schools, and Cupertino Schools. Saratoga and Cupertino will go for much more than those in Moreland (Campbell High School District) schools. The homes in the "walk to town" area near Big Basin Way are both in the Saratoga School district and enjoy the downtown area, so they will be at a premium.

If you want to live in Saratoga, in a house, with at least 1600 to 1800 SF, it would be a good idea to budget around $5000 per month - but what you get could be more or less.

Best of luck to you.

Mary
0 votes Thank Flag Link Thu Jul 15, 2010
Hi Gail:

Not sure where you are in the buying process, another great site is
http://sfbay.craigslist.org/

and if you need help do get in touch. Feel free to go to our web site at
http://www.ruthandperry.com

Best Regards
408-656-5343
0 votes Thank Flag Link Mon Jul 12, 2010
Hi Gail,

Rentometer is a great tool to use to get an idea of rental rates in a particular areaa. For specific information, I would also look to Craigslist.com. I did a quick search for you on the MLS as there are always some residential properties listed for sale. I searched in Saratoga, Los Gatos and Campbell at a maximum price of $3,000 a month. The search returned 8 properties ranging in price from $1300 to $2500.

The school district that the property falls within will greatly influence the price. Two similar properties in Saratoga can range in price, plus or minus $1000 depending on the school. Saratoga properties that feed into Saratoga schools will rent higher than a Saratoga property that feeds into Campbell schools.

If I can assist with sorting through the information, feel free to contact me. I am a transplant from Massachusetts so I understand how difficult it can sometimes be working through the details when you are so far away.

Sincerely,
April Tavares, GRI, ASP

Realtor, DRE Licnese #01742179
Web Reference: http://www.AprilTavares.com
0 votes Thank Flag Link Tue Feb 2, 2010
Hi Gail,

Check out http://www.Rentometer.com. It will tell you specifically what the going rental rates are for each area of interest. Use 95008 for Campbell and 95070 for Saratoga. In these areas, it is unlikely that the properties will cash flow positive. Because of that, I suggest that you sit down with your CPA or financial planner to determine if the monthly out of pocket expenses over the next 1-2 years offset potential savings in interest should rates increase substantially. Would your son be moving into the property while you are waiting to relocate? I work with lots of investors, and want to make sure you take into account all qualitative and quantitative factors before you take the big step of purchasing a property. Feel free to contact me at (408) 624-6202 or e-mail me at Dale@DaleWarfel.com to discuss further.

Good luck!

Dale Warfel
Real Estate Consultant
Keller Williams Realty
M: 408-624-6202
Email: Dale@DaleWarfel.com
Web: http://www.DaleWarfel.com
Web Reference: http://www.DaleWarfel.com
0 votes Thank Flag Link Tue Feb 2, 2010
Hi Gail. Depending on the size, location, condition of the home and yard generally rents would be in the range of $1,800 (smaller single family home) and up. If you consider an apartment or duplex the location and condition is going to be a big factor. Current rents range around $700+ (one bedroom), $1,200+ (2 bedroom). You are smart to buy now before interest rates increase. Inventory levels are low right now but we are starting to see more coming on the market just in the last week or two. Please let me know if there are any other questions you have regarding real estate.
Cheryl
0 votes Thank Flag Link Tue Feb 2, 2010
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