Honey Who Shrunk the Equity? - The Mills #515

This is a two bedroom unit in The Mills which is in the Cortez Hill neighborhood downtown. The building was designed and built to be rentals but was converted at what might have been the peak of the market. The unit closed on 9/16/2004, nearly two years ago. The price paid back then was $549,500. The list price two years later? $549,000, which is still more than it's worth in today's market but if nothing else indicates zero appreciaton over two years.

Current Price: $549,000

Purchase Price: $549,500

Loss @6% Sales Expenses: $33,400

MLS: 061056325

Purchase details: view