Real estate is a great investment that can pay you to live in your house. That is, it pays you to live in your house if you rent some of it out. Here’s an investment opportunity too good to miss from Burbed reader Petsmart Groomer.
3799 PARK Blvd
Palo Alto, CA 94306
SQ. FT.: 2,236
$/SQ. FT.: $514
LOT SIZE: 6,930 Sq. Ft.
PROPERTY TYPE: Detached Single Family
YEAR BUILT: 1979
COUNTY: Santa Clara
ON REDFIN: 30 days
Duplex home set up as a two separate units of 1,100sq feet each rents for $1,950. 1 level is a 2 bedrooms/2 baths and the other unit is a 1 bedroom/1 bath rents for $1,500 on a month to month. 1 car garage is rented for $100 a month. Home can be shown by appt only every TuesdayRight fence to be fixed before close of escrow.
Any ideas why some dot.com entrepreneur hasn’t moved into one unit, rented out the other, did some internets magic in this amazing Garage, and raked in the Profit?
Is it because the listing copy has even Redfin too befuddled to compute a rent ratio?
If we just add up all the dollar amounts mentioned above, we get $1149000 / ($1950 + $1500 + $100) * 12 = 26.97. That ratio would say “RENT!” anywhere but in Palo Alto. Here, just getting the privilege to bid on a neglected rental property in a dynamic neighborhood right on the cusp of High Speed Rail is such an honor, the agent won’t show you the inside. Even though today is Tuesday.