This two bedroom unit at this Mills is as pretty generic as they get, what's notable is that the price is less than the developer price in 2004. While the closing probably occurred in July the prices at The Mills were set a number of months before as this was a new building, designed as rentals and converted into condos before the building was completed. At this point downtown the Mills is likely to be the first newer project where all units in the project are worth less than the developer price so pretty much everyone has lost money there.
At this price the unit is very much still overpriced in my opinion as the rental value of the unit is no more than $2,000 per month.
Type: Listed on MLS(#066078671)
List Price: $500,000
(Range priced $480,000 to $520,000)
Cost: $524,287
Loss@6% Sales Expenses: $54,287
Loss%: 10.35%
Purchase Date: 07/02/2004
Holding Period: 29 months and counting...
Bedrooms: 2
Bathrooms: 2
Square Feet: 1090
Purchase Details: view
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