East Palo Alto, CA Ranch

East Palo Alto, on the San Francisco Peninsula, has been hit with an extra-hard case of REO fever lately. Here is a cute, renovated ranch listed for $244,900. The previous owner of this house paid $600,000 for it about three years ago (8/12/2005), and Zillow.com estimates its current value at $469,000.


This house is in great shape, and will pretty much be ready to roll with just a basic cleaning. A house like this could rent for about $2,000 per month, which means it could potentially work as an investment property or for an owner-occupant. Property values are very likely to stabilize and recover in this area over the next few years, so the strategy to buy-and-hold could lead to some serious gain if you are willing to stick it out.



The basics...
Address: 2345 Oakwood Drive, East Palo Alto, CA 94303
Current Listing Price: $244,900
PREVIOUS Sale Price: $600,000 (8/12/2005)
Size: 2 Bedrooms, 1 Bathroom; 820 square feet
Lot: .10 acres

http://www.realtor.com/realestate/east+palo+alto-ca-94303-1102855455/