I am looking to buy a property in Sacramento/Elk Grove area. I found a couple on the border of Sac/Elk Grove and in the good Elk Grove school district. However, the nearby schools are not that highly rated (5-7) compared to a couple of lesser properties in Elk Grove proper (smaller square footage and fewer bedrooms, worse condition). I am buying to rent out and wonder how this influence the rentability of the properties. Thank you all for your help.
Hello Lulu, my experience with renters as well as people who are purchasing to live in the property is that they generally place a high importance on the rating of assigned schools. The one exception sometimes is older clients, however even then they may have younger family members in school and want to be near them. If you have flexibility on a location there is almost always a home for sale for a similar price with a better assigned school (particularly now with the population aging/retiring and both parents of a child more likely to work). Please keep in mind that just because a particular school is assigned to an address you don’t have a guarantee that there will be room to admit a student. I had an escrow close last year for a Buyer that lives on the same street as a school but the school was full for the particular grade which was needed so they were assigned to a different school. Also, be wary of websites such as Zillow when they state a school for an address. It is much more reliable to look on the district’s website and search by a specific address. If you need help with this or have any other questions just send me a direct message and I would be happy to help.
Thank you very much. Following your advice, I found the website from the county to find the assigned school.
As more properties are popping up these days, I will wait a little bit to find the properties that are more rentable.
Does it make a difference if the school is unassigned? In Elk Grove school district, I checked the locator: http://apps.schoolsitelocator.com/?districtCode=06... and the schools are nearby but not assigned.
If the school is unassigned using that located which you linked to then they may be impacted in attendance. You should be able to find out by contacting the closest schools and inquiring if fall attendance is effecting all grade levels. When I speak with people who work in a school’s office there often is a person there that can use the address which you give them to offer an opinion for that moment in time and then once you have their contact information you can ask in the future.