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July 8, 2008 at 4:45 PM #235348
feraina
Participant

noone,

this MM 3/2 at 1600 sf is on Craigslist for $2350.
http://sandiego.craigslist.org/csd/apa/745496406.html

It’s not the newest, nicest, biggest in MM, and not even in a great area of MM. If the best would land around $325K, then this should land around $300K, making the price-to-rent ratio 10.6 (300/(2.35*12)), which seems way too low.

The historical norm for the price-to-rent ratio in SD, before the recent bubble, was around 16 (which makes this home $450K).