Friday, January 26, 2007

Bankers Hill Condo at Cambridge Square #407

This luxury condo on Bankers Hill is listed for exactly $100,000 less than the developer price set back in 2004.

Cambridge Square is a low rise mix of townhomes and condominiums on Nutmeg Street.

Type: Listed on MLS(#066045661)

List Price: $825,000

Cost: $925,000
Loss@6% Sales Expenses: $149,500
Loss%: 16.16%

Purchase Date: 12/20/2004
Holding Period: 25 months and counting...

Bedrooms: 2
Bathrooms: 2.5
Square Feet: 1768

Purchase Details: view


Anonymous said...

This place looks like a flip. It's not even staged. I wouldn't pay that much for an 1800sf townhouse that requires $300/mo HOA. Does this development provide amenities for the HOA?

Mr. Brightside said...

There are only 34 units in the building so I imagine that some of the basic costs of administering an HOA are simply not spread across very many people.

Other than that I don't believe there are any amenities at all.