The psychology of this market is very interesting to observe. This unit was originally listed in the high 300s and has since been price cut to the exact price the investor paid just over a year ago.
Since I personally visited this unit awhile back I can tell you that it was rented for awhile but has been vacant for a solid four months while the unit has been for sale. I have to say that the unit isn't worth much more than $1,500 per month which indicates a price much much lower than $299,900.
Note that as usual the loss below does not factor negative cash flow.
Resale Price: $299,900
Cost: $299,900
Loss@6% Sales Expenses: $17,994
Purchase Date: 06/28/2005
Holding Period: 14 months and counting...
MLS: 066006475
Bedrooms: 1
Bathrooms: 1
Square Feet: 667
Purchase Details: view
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