The MLS# is 21216746 and the price is $799k. This is a working property, not a high end showpiece. I believe it would pay for itself with 10% down and do a good deal more than that at 20% down (Depending on the operator). The listing is by Sarah Hylton of Terra Firma Global Partners, an agent I both like and respect. ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? The main home has a wheelchair ramp, small but nicely tiled bathrooms and a better than decent floorplan. It rented for $2k a month as is (The exteriors of all 3 homes have all been recently painted). It?s not fancy and I thought some of the carpeting was downright ugly. I liked the positioning of the home which is well off the road and it had good light. It?s a solid structure.? It does need some work, nothing serious.
The other 2 homes are 2 Br 1 Ba homes close to the road with some landscaping. They currently rent for $1100 and $1200 per month which is well below market rent ($1,500 each). The well report is in and it?s good, the pest report is available and the septic systems are scheduled to be pumped and inspected in a few days. The barn and outbuildings need a little cleaning up but look good and judging by what?s growing and how healthy it appears this is good soil, it appears to be gold ridge sandy loam. The place is fenced and cross fenced. You could grow vines, orchard crops or row crops, keep horses, sheep or cattle or a combination of the above. This is a very versatile property at a price that really works and owner financing is possible. I very much like the idea of having income from agricultural pursuits as well as rental income. This one is a solid buy.
About Tom Stone
I am a Broker Associate and Notary public with Frank Howard Allen in Graton Ca. My father was an Appraiser and expert witness based in Oakland Ca for many years and I grew up having the basics drilled into me. I enjoy what I do and I am good at it. I managed income property in Oakland for a number of years and was licensed to run a collection agency for more than a decade. I have also worked as a credit manager and as the senior collector at the test center of a Bank . I have been commenting for years at "Calculated Risk" and on other Real estate Blogs including the defunct "Sonoma Housing Bubble" Blog. The best job title I ever had was "Chief Garbler". My Email Address is "StoneForHomes@Gmail.com" and my cell # is (707) 364-2477, please don't call before 7 AM or after 8 PM unless we have a deal in progress.
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