This single family residence lies in a beautiful Paso Robles neighborhood. Its location enables it to be rented by a variety of people, especially active families. Nestled between gorgeous Sherwood Park and Paso Robles Golf Club, golfers and entertainers alike will go head over heels for this property. It is close to local businesses, and convenient to open space as well as freeway access.

The property consists of a 1,540 square foot, 4 bedroom, 2 bathroom, single family home on a 6,970 square foot lot. Price per square foot at asking price is $148.70.  Approximate market rate rents of $2,000, based off a $500/room rate were used in this analysis. This results in an annual gross income of $43,200 a year, minus a vacancy factor of 5% resulting in an effective gross income of $22,800.

Asking price for this property is $229,000 and this analysis is based off a purchase price of $200,000 as it has been on the market for over 72 days, with $5,000 toward fix-up costs, 25% down payment, resulting in an initial investment of approximately $55,500. These assumptions combined with monthly expenses results in a before tax cash flow of $674 per month or $8,094 per year. The cap rate for this property is approximately 9.2% and the gross rent multiplier is 8.33. This property has a lower than average total operating expenses at 19% resulting in a 14% cash on cash return of initial investment, and over an 12% yield.

This property is a classic Paso Robles gem located in the south eastern quadrant of Paso.  The newly revitalized downtown of Paso Robles is attracting all kinds of potential renters and markets. The fine dining and classic vineyards have built a booming job market, leading to fewer vacancies. The most positive attribute of this property is the amount that it cash flows each month with 25% down.