我昨天去看來這個房子(drove around, didn't go in)：
http://www.redfin.com/CA/San-Diego/15335-Paseo-Ajanta-92129/home/4619041
Follow the same calculation, no HOA and rent=$2200/month, for 6% cap rate, the price should be $320k but the asking price is $379k. The fact that it has not been sold after 188 days on Redfin this time indicates that the conditions might not be so good. I also saw many trucks parked on the street so the street is occupied by blue color people. This area might be ok but I would pass.
My definition of good area is "trouble free", like my only rental so far has given me zero trouble, I mean really zero. I have no time to deal with troublesome tenent and I do not want to hire PM.
I do not pay much attention to average income. I drove there to see and feel.
