drunkle-
I agree that the majority of people in np have been here a long time. I have lived here for the past 17 years in various places (minus 2 1/2 years in Hillcrest),and I also have many friends in the neighborhood.
Most people either own homes or rent homes they have been in for awhile, and many don’t even get advertised. Case in point….I live in a 2 bed/1 ba house with a 1 bed/1ba house on same property, next door, not behind my house. I have been here since Dec 99, and when the house next to me came up for rent, some friends of mine got it and have been here since early 2001. It is who ya know….the people that are paying the high rents are either divorcing, new to the neighborhood, or have been given the boot when their long term rental went up for sale.
Some other friends of mine were renters on Pershing Ave and bought the house for $225K over 10 years ago. The prior owner took a $50K loss at that time.
Approximatey 3 years ago, they did some condo conversions across the street from me. That was cool, because it moved out the family with 16 people in a 2 bed townhouse. However, the new owners got screwed, the place is constantly having plumbing and electrical issus, and a unit is always for sale (out of 5 units) and the price keeps going down.
EDIT: I think the house posted could rent for about $1900–$2500 is pushing it. $2500 will get you Pershing, or Granada street, something near Morley Field, with more square footage.
