Davis CA Real Estate Blog

head_left_image

3 Summer Real Estate Bargains in Davis, California

For July, I decided to put myself in an investors shoes for a few minutes and scout the Davis real estate market to see what kind of deals are out there.  I pictured myself as an investor that wants to find an investment home to use as a rental. But, a few parameters -

First, I would want to make the purchase, and close, in time to rent it out before the University starts it's fall session. That means a property that can close quickly. So I'm not going to look at any property that is a short sale. I can't be waiting around to hear from a bank. It could be months before they respond.

Second, it has to be in good condition. I don't have time for a lot of construction and rehab, and I want this home generating some sot of revenue by fall.

So I narrow my search and look for good buys in Condo, half-plex, and single family home. This is what I found.

 

Property #1 - The Single Family Home

Here's an investors dream. 4 Bedrooms and the price was just reduced, so we might have a motivated seller. The home has a large backyard already fixed up for the vegetable gardener. At just $379,000, that's just $94,000 per bedroom for a single family home. For a four bedroom home in east Davis rents currently run from $1,700 to $2,000 per month.  You do the math. This could be a winner.

 

 

 

Property #2 - The Half-Plex

This is a sweet halfplex in a great location, right across the street from a large park, and down the street from a great shopping center. This beauty is just made for the universty rental market. No problem finding renters here. It's a clean 3 bedroom, 2 bath unit with off street parking. It has vaulted ceilings, newer appliances and roof so your maintenance costs should be minimal. It was built in 1990 and looks sharp. It's priced at $379,500.

 

 

Property #3 - The Condo

This is the cheapest property in Davis, that's not a short-sale. It's only one bedroom, so it would be better suited for the first time buyer, a couple or single person. This is a large one bedroom, One bath condo in Stonegate and includes Stonegate country club priviledges (Tennis, Pool, Workout room, Lake with picnic area). Close to shopping, too. There is the matter of quartery dues of $121. Okay, maybe not an investment rental, but at $229,000 still a great buy.

 

Summertime in Davis is the time when a lot of rental properties change hands. Students graduate, people leave town and move on. The next batch of students arrives looking for housing. If you are an investor looking for property in a University town, Davis is the place for you. I have more detailed information about Investing in Davis Real Estate on my website.

For July of 2010, these are three of the better buys in Davis right now. If you would like to see any of these homes, give me a call today at 530-219-7653 and we can set an appointment for you to see them, or any other Davis property.

 

2 commentsVicki Walker • July 11 2010 12:29AM
3 Summer Real Estate Bargains in Davis, California
share
For July, I decided to put myself in an investors shoes for a few minutes and scout the Davis real estate market to see what kind of deals are out there. I pictured myself as an investor that wants to find an investment home to use as a rental. But,… more
Davis CA Real Estate is Blooming in Spring 2010
share
The Davis, California real estate market has always had a seasonal component in that sales increase in the spring until late summer and then they tail off until the following spring. The weather and the University school year are two factors that… more
Google Now Offers Bicycling Directions and Maps
share
Google Maps has recently released a new feature that will be of particular interest to Davis residents and bicycling enthusiasts. As you know, the town of Davis, California is all about bikes, bike paths and bike lanes. Now when you use Google… more
As 2010 Starts, Davis Home Prices Hold Firm
share
I'm providing this latest update to show that home prices, as measured by price per square foot, have held firm in Davis over the last three years. The graph below shows the price per square foot of homes sold from January 2007 to January 2010… more
Davis Home Buyers are out in Force…
share
Saturdays’ Incredible Open House Just as I was setting up my signs for the open house in West Davis last Saturday another strong shower passed right over head. Setting up the signs is by far the least favorite part of any Open House and… more
Davis Real Estate market report for Q3 2009
share
The summer real estate season is over in Davis and the students have come back to town to fill up the rental homes and apartments. The number of homes sold in Davis was down in the summer quarter compared to the same period in 2008. Why are sales… more
Woodland Ca Real Estate Prices are a Bargain in Q3
share
The Woodland, California real estate market continues to see the effects of a slow economy and the tight credit markets. Sales of homes in Woodland slowed to just 147 in the 3rd quarter of 2009, while the median price fell to just $215, 000. Here is… more
Davis Home Prices Hold Up Relatively Well From 2005 to 2009
share
The first question local friends and neighbors ask when the subject of real estate comes up is "how much are prices down"?, which is a simple question that can lead to complicated answers. The answer could be different depending on the type of… more
October Home Sales for Davis and Woodland
share
The peak selling season has come to an end in Davis. Spring and Summer are the most active months for home sales in Davis for two primary reasons: As a University town, most things in Davis tend to revolve around the school year calendar. Many… more
Davis Ranked #1 for California College Towns
share
A recent blog post by Paul Shigley of the California Planning & Development Report lists Davis as #1 among true college towns in California. "Davis is the prototypical college town. Downtown Davis, located an easy bike ride from campus, is a… more