http://www.zillow.com/homedetails/3402-Pinewood-Ter-APT-214-Fremont-CA-94536/25014889_zpid/
What do you folks think of this house?
Is it worth buying as an investment property?
Cheers,
Kiran
3402 Pinewood Terrace, #214, Fremont, CA 94536
By kiranb94030 Follow Tue, 29 May 2012, 9:22pm 823 views 3 comments
In Fremont CA 94536
Watch (1) Share
Quote
Permalink Like Dislike Viewing Comments 1-3 of 3 Last » See most liked comments
|
kiranb94030 is moderator of this thread. |
Follow
Befriend (54)
5,181 threads
6,153 comments
46 male
Menlo Park, CA
Premium
Yes, at first approximation, it looks like it's a reasonable deal for $160K, and maybe $1,600/month in rent:
http://patrick.net/housing/calculator.php?uaddr=3402+Pinewood+Terrace%2C+94536
Follow
Befriend
6 threads
18 comments
Cupertino, CA
HOA is $355 per month. You'll probably get a 4% interest rate since you're renting it out rather than living on your own.
Your monthly will be around $1050 or so including HOA, insurance for inside your unit, and property tax.
The rooms are probably not big since this is only 936 square feet for 2 bed 1 bath. I'm assuming you can rent it out for around $1400 a month?
You should make a decent profit.
Check with the HOA to see if there are rental restrictions. Some have a limit. Also check that this complex is not in litigation, if it is you need all cash.
Follow
Befriend
1 threads
1 comments
Thanks for your replies folks.
At 150K selling price, and 30K down
(Non primary residence/ Investment property )
Principal $120000
interest rate % 4
mortgage 573
HOA 355
Taxes + Ins 167
rent 1400
gross month 305
gross year 3660
tax % 35%
net year 2379
return % 7.93
---
I calculated the return on the 30K investment (i.e., net year / 30000). This is what my Excel sheet shows, are my assumptions okay?
Cheers,
Kiran