Investment Property Across from School

I’ve just entered escrow on a small 3-2 across the street from an elementary school. The house is the smallest and cheapest in a well-to-do neighborhood in California. My real estate agent doesn’t think I will have a hard time finding a tenant–I have my doubts. The house is an REO and I’m getting a good price on it. My agent thinks I can pull $2600 rent per month. I’m just concerned that the school will limit my tenant pool.

Does anyone have experiance with this? Thanks.

Look for renters with kids that can go to that school. Families with kids love the fact that their kid doesn’t have to walk far to get to school. People like me (kidless) would NOT like to live across the street from a school with a bunch of runny noses and loud munshkins. I chose a condo community full of half dead elders rather than the kids.

My point is that your house can rent just as easily as if it were not near a school. As long as the home is decent itself then you should be fine. In your add, I would use the school as a highlight to attract parents. Try to focus your ad to families rather than those without kids.

GooD LucK! :beer

Every property has a limited pool of potential buyers/renters.

Your pool on this property will probably be limited to families or single parents with young school aged children… but that is an Olympic size pool :biggrin

Understand that obsolesce factors are dealt with on purchase resell and rent…

If you bought right and can adjust the rent according to the obsolesce factor then you’ll be fine…

The biggest negative is parking, trash, and children nuisance… aka graffiti and vandleism…

Good Luck


Thanks for all the feedback and tips! I feel a lot better about my decision.

An elementary school would be fine but in no way a high school.
Teenage drivers, major traffic for school sports events, no no

No Problem. That’s what we’re best at here…answering questions! :beer

Let us know how it works out for you.

GooD LucK! :beer