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Patrick
2009 Jul 9, 3:44am
If it were $140K and no rent, might be a good deal as an investment property. Maybe $1000/month rent, so $12K/year, so 8.6% gross.
The rent for the space is the deal killer though. I don't see that listed in the craisglist posting. And just the uncertainty of being subject to that would make me very wary.
dont_getit
2009 Jul 9, 7:28am
I am not so sure if it would rent for 1500, when very good apartments in Cupertino school districts are renting 2 beds for 1600, you can see in craigslist. I rent in 94086 area, not so good school, but very close to downtown. I rent a 2b/2ba sfh(not so great) for 1700. It can all be nice, but, lets not forget its still a trailer
For any real estate listing of a mobile home for sale that does not include the space rent, you can easily find out the space rent that the park charges by putting the address, minus the unit #, into google along with the key words "space rent", in quotes or not doesn't matter. This will bring up multiple listings for that park showing the range of space rents. Don't pay more than $700 per month space rent.
@ptiemann,
The video is nice. The space rents for over $800 which seems a little steep. Let's do
the math. The interest for $140K would be about 5% on the worst case; that
should be equal to about $600 a month. Then the tax, insurance and
maintenance would be about $200 a month on this property.
The total would come out to $1600. If the rent is $1500, then I'd say rent.
I wonder how much these places went at the height of bubble.
I never understood why a mobile home costs so much. You still pay rent for the space, and its really a shithole to live in. On top of it, you dont have a clue how your neighbors would be. And they want 140K for that. It simply amuses me all the time. In South SJ, condos in not so good neighborhood are available at that price. I dont think this shit belongs to best schools either. Can someone please explain why this is worth 140K.http://sfbay.craigslist.org/sby/reb/1261366375.htmlThanks!