[quote=sdrealtor][quote=an]What’s interesting is, according to Redfin, the rent estimate for that Sunnyvale home is only ~$6k. Houses in Mira Mesa with similar rent estimate from Redfin (trying to keep variables as close to the same as possible) is going for ~$1.3-1.4m.[/quote]
I don’t know about Redfin rent estimates but my neighborhood has rents around $6k now and prices are $2m+ ish[/quote]
That estimate in redfin for 94086 is pretty close to reality. Speaking from experience. 4/2 1700sqft in Sunnyvale c rented for $5000/month
Roughly same time 5/3 2600 sqft in 92130 rented for $5000/month around the same time. 94086 tenant isn’t planning to buy anytime soon because despite floating in Uber and Facebook stock grants, rent is still cheaper than buy by a lot and money saved, tenant sends kid to private school and very close to new tech campuses. But there it’s pretty crazy, there use to be a large plot of dumpyard land next to the rail lines. Last time i was there, that scrapyard right along train tracks is now high density housing.
Both roughly $6k/month now.
That’s why I said what I said. All else being equal, tenant gets more for their money here in SD, as long as they can work remotely most of the time. I don’t need everyone to work remotely. I just need to find one that does, lol…92130 just renewed his lease for 2nd year and asked for an additional 2-3 years extension….I said we would talk about it when time is up.
I’m not sure if $6k/month in MM is doable yet. I’m not saying it isn’t, I just don’t know. Could be with the right house.
