Need a High Level Overview of Folsom Areas (Roseville, Elk Grove: for sale, rentals)

[DontKnowIfImComingOrGoing]

Hi,

I've been to Folsom a few times and know the rough geography. Can someone break down Folsom into the different areas.

For example:

OldTown - Housing Stock: Mixed housing stock, lots of duplexes, but bigger older homes on 0.15 acre lots.
Ammenties: Lots of restaurants, easy access to water.
Schools:
Other:

Thanks

P.S. I love Elk Grove but want to diversify the properties I own.

[caligirlz]

I live in Folsom & will answer your questions when I get home from work.

Are you looking to buy a rental?

[DontKnowIfImComingOrGoing]

Originally Posted by caligirlz

I live in Folsom & will answer your questions when I get home from work.

Are you looking to buy a rental?

I'm looking at two options.

Firstly, I'm looking at a rental, something that cost about $300-350K and will return $2K in rent. That may not be possible, but those numbers work.

Secondly, I'm looking for something I can live in that's livable: accessible to old town or Folsom down town (is there one?), access to bike trails, the water, outdoor stuff etc. For this option I could spend upto $650K for the right house but would expect a larger block 0.15acres plus and a bigger home 2500 sqft+

Thanks!

[borninsac]

Originally Posted by DontKnowIfImComingOrGoing

I'm looking at two options.

Firstly, I'm looking at a rental, something that cost about $300-350K and will return $2K in rent. That may not be possible, but those numbers work.

Secondly, I'm looking for something I can live in that's livable: accessible to old town or Folsom down town (is there one?), access to bike trails, the water, outdoor stuff etc. For this option I could spend upto $650K for the right house but would expect a larger block 0.15acres plus and a bigger home 2500 sqft+

Thanks!

I own a rental in Folsom and am somewhat familiar with the rental market for single family homes. I'd be surprised if you get $2,000 of rental income for a home with $300-$350K of current market value. My best to you in your search.

[NinaN]

I have a townhome for sale in Folsom at $330k. I estimate it will get 1500 to 1600 per month in rent if someone wanted to rent it out. I don't think you will hit $2000 on a house in that price range.

On the other hand it's a very reasonable budget for a house to live in. Lots of homes like that near bike trails and near the lake, finding a bigger home on a bigger lot might be a little bit more difficult if you're trying to get near old town. There really is not a downtown, however there is quite a bit of shopping and such along Bidwell Street. For sure you can get a home in your price range near there.

[caligirlz]

Can someone break down Folsom into the different areas.

For example:

OldTown: Mixed housing stock, lots of duplexes, but bigger older homes on 0.15 acre lots. - Old town is called the historic district or Sutter St, and then there are older neighborhoods that may possibly meet that criteria such as the central district or "Folsom Heights" per the map (near Lembi Park) or the Wales area.
Folsom Historic District

Here's a map of the major neighborhoods: Folsom Neighborhood Map - MyFolsom.com

Ammenties: Lots of restaurants, easy access to water - easy access to restaurants & the water is available from most all of the neighborhoods due to the trail system, but if you want to be the closest to the water, then look at American River Canyon area, the central or historic district.
Schools: - do you need a listing or a rating?
Listing > Our Schools Directory
Rating > Folsom Schools - Folsom California School Ratings - Public and Private

Originally Posted by DontKnowIfImComingOrGoing

I'm looking at two options.

Firstly, I'm looking at a rental, something that cost about $300-350K and will return $2K in rent. That may not be possible, but those numbers work.

Secondly, I'm looking for something I can live in that's livable: accessible to old town or Folsom down town (is there one?), access to bike trails, the water, outdoor stuff etc. For this option I could spend up to $650K for the right house but would expect a larger block 0.15 acres plus and a bigger home 2500 sqft+

You can get an idea of average rental prices here. Rental Properties | Home Run Property Management

See note above about the historic district. This may help you find a home with easy access to the trail system. Folsom Website - Bike Map
At $650k, you're pretty much in the sweet zone.

[homesbyheath]

I grew up in Folsom and love the area. I sold a friend of mine from high school a rental in Folsom for $289,000 a few years ago and he get $1,750 rents. The house has since gone up in value to around $380,000. Home prices are strong in Folsom and you will have 20+ applicants to rent. I just don't see the numbers making sense for you there though.

Have you looked into Roseville, Rocklin or Lincoln?