I’ve seen the opposite in the 75-200k per unit range — condos seem to have better yields, but come with risks of financial insolvency and/or HOA fee rises. This is one of the reasons that, while I have offers out in SD, I’m also looking in NJ and the outer boroughs of NYC.
You can get an 1-4 family in a decent area a lot cheaper than in SD. In the case of NYC, purchase prices are higher than NJ, but taxes make Californian property taxes look horrifically expensive. You can end up paying $100/mo for a $300k house or $300/mo for one worth a million or so. (This only applies to 1-3 unit buildings — 4+ units, even if they’re condos, have much higher tax rates(*).)
(*) – taxes are often vastly reduced for new-build condos for a period of 10-20 years. Even if not, my rate is about $1000/yr per $100k.
