Sacramento, CA Townhouse

Sacramento has certainly seen its share of wild ups and downs in the real estate market. In this major downswing, we’re seeing REO properties selling for prices not seen for 10-15 years in this area. This 3-bedroom townhouse condominium is listed for $49,000, more than 60% lower than its current Zillow.com estimated value of $136,500. The foreclosee paid $175,000 for this place about two and a half years ago (11/30/2005). At its peak value a few years ago, Zillow.com estimated this place at a whopping $239,000.


This condo is not in the greatest neighborhood, but it could be a fantastic rental property for an investor looking for cash flow. A few minor repairs and cosmetic updates will be required, with a likely cost of about $3,000 to $5,000. This townhouse could be rented for $1,000 per month… with a total monthly payment of under $700 (mortgage, taxes, HOA), this investment would generate a decent cash flow as long as it is occupied steadily. Now is the chance for a beginning investor to get into the market – once REO fever has passed it will likely be difficult to break into the market once again; check out this property if you’re in the Sacramento area and ready to start investing in rental properties.



The basics...
Address: 66 Creeks Edge Way, Sacramento, CA 95823
Current Listing Price: $49,000
PREVIOUS Sale Price: $175,000 (11/30/2005)
Size: 3 Bedrooms, 1.5 Bathrooms; 1,323 square feet

http://www.realtor.com/realestate/sacramento-ca-95823-1100571391/