Still think that you’re priced out of the market? Here are 4 homes (detached residences, not condos or townhomes) for under $150,000. In terms of monthly payment, that’s less than you’d pay for rent with even close to 100% financing. In terms of an investment, that’s instant cash-flow with just a modest amount down. Without further ado, here are four of the Wine Country’s most affordable digs.
Home #1
2543 Shawnee Street, Santa Rosa – $140,900
3 Beds, 2 bathrooms
1100 Sqft, 6011 Sqft Lot
Listed by Keller Williams Realty
Pro:
Decent square footage & lot, 2-car garage and “retro” rock siding right out of the Flintstones.
Con:
The listing reads “Completely Damaged by fire”, so yes, it’s a fixer.
The Dirt:
It’s been on the market for almost a year now as a foreclosure; with a decent agent at your side, there’s probably some wiggle room on price.
Home #2
823 Link Lane, Santa Rosa – $145,000
4 beds, 1 bath
1103 Sqft, 6534 SqFt Lot
Listed by Creative Property Services
Pro:
Definitely the lightest fixer of the bunch with a decent looking kitchen remodel (80% complete) to boot. 4 bedroom would generate good rent, backs to elementary school – exercise the dog with ease!
Con:
Missing that second bathroom! Roof looks to be shot (what would you expect), busier street than others in the West 8th neighborhood, T-111 siding.
The Dirt:
A great deal for the price. With minimal repairs, this would be a great rental or even residence. Homes on this street sold in the mid $500,000s…that’s not a typo either!
Home #3
710 West 8th Street, Santa Rosa - $149,900
3 beds, 2 bath
1105 Sqft, 6011 SqFt Lot
Listed by Keller Williams Realty
Pro:
Cute, up & coming neighborhood with less traffic than Link Lane. Cool 1950’s Rancher architecture with wonderful redwood siding.
Con:
Definitely a fixer, creepy lino floors (easy fix) – not many complaints
The Dirt:
I’ve recently sold 2 homes in this neighborhood (for $40K more) and my buyers have found tenants with relative ease.
Home #4
1221 Grand Avenue, Santa Rosa - $99,900
2 beds, 1 bath
581 Sqft, 4400 SqFt Lot
Listed by Coldwell Banker
Pro:
A home for under $100,000. (period)
Con:
A fixer of a home – no bank would lend money one it.
The Dirt:
Hey, it’s a home for under $100,000. I haven’t seen this one in person yet, but just reading comments from previous listing agents in 2005 and 2003, the home looks to be roughly 1600 SqFt including a garage-conversion studio. If you’ve got the cash, this would be a great cash buy, fix up, then refinance. With about $50,000 down, you’d have some decent retirement income.
So there you have it…four homes for about the same as a Porsche Sport-Utility. Even in this market, I can guarantee that the car would lose more equity! Feel free to call if you’d like to know what else is available in Sonoma or Marin.
