FLU, rents in CV are pretty high, especially for nicer properties. I know of a very beautiful 2,200 sq ft house that went for $3,500/month last fall, with multiple offers on it. I also know of at least 3 others, of the same size, and in the same general area, that sat on the market for months, and probably ended up finding tenants in the $2,500 – $2,800 range.
In the rental market, condition of the property is even more important than in the purchase market. You can always remodel a house you buy, but not one you rent.
