Researching rental market in Folsom

Researching rental market in Folsom

Member since 2022 · 3 posts · 0 votes

Hi, I’m looking to purchase a rental home in Folsom. Lemme list the below questions to the BP community. Thanks in advance.                                   1) Which communities in Folsom have good rental demand and appreciation possibility ? Heard of Folsom ranch recently. Is there good rental demand for single family homes in Folsom ranch ? Or people tend to buy there instead of renting . Heard new schools are opening up in that community. so they aren’t there already ? If that’s the case , would there be rental demand there till schools open in that community ?   is there long wait at this community?  2) Are there any other cities in the Sac region other than Folsom that have near comparable rental demand and appreciation possibilities ( as Folsom is expensive) ?                            3) Also, are you aware of any web site that shows the current rent a city/community or address is drawing ? Anyone tried rentometer ? Any opinions on if the rent it shows is legit ?

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Pleasanton, CA · Member since 2015 · 246 posts · 115 votes
4y

I got 3 sfh rentals in Folsom and never had issues finding good tenant. First home bought in 2013 and two last year. Only complain is that I didn't catch the trend and buy sooner. Typical sfh rent is from 2600 to 3000$ for 1750 to 2000 sq ft homes. I never had my home vacant for more than a week.

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  • Member since 2019 · 41 posts · 41 votes
    4y

    Hi Vinod, lot of questions, I'll try to answer them the best I know
    1) Any home with good schools associated with them will have strong rental demand. If you are looking to buy a quality rental avoid shady area towards DMV side. Otherwise across iron point/prairie city/boardstone/empire ranch are great neighborhoods. Worthy to mention that you cannot expect immediate Cashflow from these rentals, since Folsom is more of an appreciation market. 
    Folsom ranch has very high demand, mostly from home owners (a lot of bayarea exodus). I do know few cases where homes have been rented out. The school there has just been built and will start operation soon. I expect the schools to be good. As of right now, all new homes in Folsom Ranch are associated to schools in North Folsom.
    The waitlist in Folsom ranch is long and premiums for "lots" are high.
    2) Explore Roseville, a good A ranked city with good schools just like Folsom. If you are willing to go to B neighborhoods, check out Carmichael, Fair Oaks. The usual tradeoffs apply, more CashFlow (relative to Folsom/Roseville), less appreciation long term.
    3) This is where California will let you down, "Rental comps" are not available easily on the MLS, hence your realtor will not have access to rental demand. For accurate information, you'll have to get in touch with a professional property management company and/or third party apps that sell this data (like rentometer). I myself have not tried this.
    Goodluck!

  • Real Estate Broker · Rocklin, CA · Member since 2020 · 221 posts · 82 votes
    4y

    My name is Ranjit Sandhu and I’m a broker in Rocklin. Rohan covered quiet a bit so I’m not gonna repeat that. Rocklin schools are best in placer county and rental market is pretty good in Rocklin/Rosevillle areas. Folsom is little expensive than Rocklin/Roseville areas. You can buy anywhere in Roseville, Rocklin and Folsom and you won’t go wrong. Rental is hot in all these areas. Let me know if I can be any help. You can search Zillow for rent. 

  • Realtor · Folsom, CA · Member since 2014 · 52 posts · 28 votes
    4y

    I am a Realtor and I live in Folsom Ranch. Mangini Ranch Elementary School opened last August and is amazing. My child is in the first grade and we are extremely happy with it. Wonderful principal and teachers. For rental comps when I personally invest, I look at rentometer, the BiggerPockets rent estimator, and I also check Zillow and Craigslist to get a good idea on what’s out there. I have seen homes listed for rent in Folsom ranch from 3500-400, but I honestly don’t follow up to see what they end up renting for or how fast they were rented. We have an in law unit that’s 1 bedroom and 1 bath with a private entrance and its own garage and we listed in furnishedfinder for $1995 and got a ton of interest. Let me know if I can answer any other questions regarding Folsom ranch. I am part of the Bay Area exodus :-) and we love it here and plan on finding a creative way to invest here and make the numbers work. 

  • Member since 2022 · 3 posts · 0 votes
    4y

    Thanks for all your replies .. Roseville/Rocklin has come up in several discussions too. Am going to study these areas more. Also comparing Manteca/ River islands to Sacramento area rentals.

  • Real Estate Broker · Rocklin, CA · Member since 2020 · 221 posts · 82 votes
    4y

    Sure Vinod. Let me know if you need any help in Roseville/Rocklin area. Living in Rocklin since 1996 and working as a Realtor since 2006 so I know the area pretty well.

  • Real Estate Agent · Sacramento · Member since 2017 · 26 posts · 8 votes
    4y

    Hey Vinod, I specialize in buy and hold investment properties. Happy to help if you have questions about rentals in the area. I personally love rentometer for surveying market rental rates, I find it to be pretty accurate. 

  • Pleasanton, CA · Member since 2015 · 246 posts · 115 votes
    4y

    I got 3 sfh rentals in Folsom and never had issues finding good tenant. First home bought in 2013 and two last year. Only complain is that I didn't catch the trend and buy sooner. Typical sfh rent is from 2600 to 3000$ for 1750 to 2000 sq ft homes. I never had my home vacant for more than a week.

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