[quote=no_such_reality]…If someone gifted me that Buena Park house, I’d keep it and rent it. I know that area and it’s manageable for me as a rental. The Escondido house, is much less accessible being an hour plus without traffic to get to and I have no familiarity with the area.
The little rough gem in BP is sadly, probably a $2000+/month rental. I’ve lived in far worse when I was a renter.
And again, my real point with the BP house is that it’s essentially upper bounds for a $100K earner in Orange County without making yourself stupidly house poor. A living wage is 1/3rd of gross for housing. Well, they’re running close enough and that’s making $100K.[/quote]
Okay, I’m glad to hear this, NSR. A married $100K wage earner who is claiming three exemptions might take home ~$92K, no?
You have to agree that the BP house IS conveniently located. And the photos show it modernized and in pretty good shape (MUCH better than the Esco house) and it sits on a nice-sized lot. It’s lacking in curb appeal, which is fairly cheap to fix. However, its street and curbs look as though they need resurfacing (common in SD, as well).
Do houses in this area sell as principal residences or do they primarily sell to buy-to-let investors? And if they don’t usually sell as principal residences to the sub $100K crowd, why not? Are there any tasteful second stories in this area and is it worth it to put one on? If not, what price would a buyer have to pay for this property to make a second story pencil out (to preserve the backyard)?
I’m asking these questions to find out if typical “OC” buyers in this price range would tend to pass over a listing like this in favor of a big stucco box in the IE, causing them to wait in line on the 91 for 2 hrs daily. What other (SFR) choices to they have in the OC, NSR?
Lastly, can the kids take the bus from there to Knott’s Berry Farm on season passes? 🙂
NSR, WHO will likely buy this property and what will it sell for??
