[quote=ltsdd][quote=AN][quote=ocrenter]Almost $200/sqft. Not bad. So you are the pending buyer? Yes, I would close.[/quote]
There are plenty of houses in MM that are much closer to $200/sqft than this one (those tend to be in better areas too). There are plenty at <$200/sqft in similar areas. Those houses tend to be bigger though.
Here are some examples:
http://www.sdlookup.com/MLS-100053982-8921_Centaurus_Way_San_Diego_CA_92126 closed at $156/sq-ft.
AN - your examples are very misleading. You rarely see any SFR in MM that is less than 1500 sqf that sells for less than $200/sq-ft.
That house at $280k is a good deal. I don't see any downside to it as far as value and as a potential rental.
Regarding rents, I very much doubt you could get more than $1800/month for a 3/2 sfh in MM. Especially on houses south of MM and east of Camino Ruiz.[/quote]
How are my examples very misleading? I just pull up 3 examples in mid $300k. If you look at ALL closing for this model (2,138 sq-ft) on the east side of MM, you'll see the one that have not been upgraded sell for mid $300k and the one that have been remodeled sell for between $400k-440k. I was just trying to point out there are properties selling for < $200/sq-ft in MM.
I assuming you're talking about the original property listing for $299k, not $280k? I never said the original property isn't a good deal. If you read my original response, I did say it's a pretty decent deal. I don't see much down side either. Especially when it's cash flowing.
I agree that rent is more likely to be $1800/month, not $2k/month the OP was hoping for. However, craiglist currently doesn't have much <$1900/month for SFR in MM. Maybe rent is rising?
