Newly renovated 4 beds 2 bathroom single story home in a desirable neighborhood.

BRRRRR each house or MF to get to the desired amount of units.

West of 288 will have low returns because you're talking about very desirable areas (midtown/montrose/heights/kirby/rice/etc.), though you'll not be killed by a bad manager as there isn't as much riding on their quality if it's a good area.I have a lot in 77006 but I also but a lot in 77004 since you get more bang for your buck and it's clear that area is getting better.

On top of all this, it is located in the highly affluent Marin County and is in a desirable water-front location."

I keep reading articles about how companies are changing their plans to accommodate the, now common, desire to work from home.

I’m currently interested in and considering buying a duplex in the 48202 zip code of Detroit, said to be a “newly desirable” area to consider.

I was commuting to Long Island, Manhattan, Statin island every week in one of the most desirable towns in the United States while only paying $500 out of pocket per month becuase our tenants paid the bulk of the mortgage. 

The REO market is nearly tapped, and unless you have 200 million in funds you can not purchase at the desired 50% - 65% below current market value.

My speculation is that Oak Park is a desireable area for buy & hold investors.

The bottom line is, new construction or not, prices have to be able to be supported by comps, and you have to ensure the same desirability factors are still there.