There is no way that house, 2 family in not so good a neighborhood is worth 700K.

They got passed over in the sale because they were in bad neighborhoods but they happen to be some of the best in the neighborhood. 

@Hannah Walker which SF neighborhoods are you looking in?

The properties are all brick, built in the late 70's/early 80's, and are in A-Grade neighborhoods.

Hi,I'm running the numbers on a 4/2 in a neighborhood between Lauren's Valley & Campbelton road. 

Nothing is cheap anymore, inventories are very low and anywhere in the valley below $350-400k are almost guaranteed gone within hours or going through bidding war, especially in the neighborhood like where this property is.

If it still seems OK I walk around a bit check the neighborhood and building best I can w/o trespassing; sometimes by that time I get the opportunity to chat up a tenant who is coming or going-I am interested in renting I tell them-if you are cool they will talk longer than you need them to.

@Christopher Adrian 8-12% cap rates on the south side but NOT in the South Shore neighborhood.

All the investor friendly multi-unit properties in decent, safe neighborhoods get multiple offers above asking, including cash.

The neighborhood is now trendy and property values have skyrocketed and will continue to do so I imagine.