Old San Rafael California condo renting for $2600/mo

[Diane Tycangco]

Hi y'all! Was wondering your opinion if you would buy a rundown condo that is renting for $2600/mo and selling for $315k with $440/mo HOA. The place looks so rundown and decrepit and the tenants are low-income. What is the chance that a rundown property like this can still appreciate and rents can still rise?

Thanks.