Assuming that each unit could rent at $1200, what’s a good purchase price? If you applied the 100 x gross monthly rent rule it would pencil out at $480,000 (!) which seems unrealistically low to me. I’ve seen similar crazy disparities in North PB 4plexes between the theoretical price (as derived by the forumula and asking prices. For example,
According the formula the fair value (100 x $8000) would be $800,000! Is there a separate formula for properties in highly desirable areas or did I misunderstand something along the way or are these examples just priced way too high? Your insights, as always, would be appreciated.
I have seen the one on Curlew. It’s been on and off the market for a very long time. Last sold 02/12/2002 for $325,000. IMO, priced way too high. Ascent Real Estate, Inc. I think, got it from the bank. Not 100% sure. I have seen them list other properties rehabbed from bank.
Also Loring is dreaming w/that price. I think they got sucked into a portal that took them back to 2006. Either that or they’ve been in a coma since then and just woke up unawares of what’s happening w/banks, etc.
Loring was scheduled to foreclose, as I indicated 1067 Loring on Jan 20. I haven’t followed up. Might have been postponed.
I have seen the one on Curlew. It’s been on and off the market for a very long time. Last sold 02/12/2002 for $325,000. IMO, priced way too high. Ascent Real Estate, Inc. I think, got it from the bank. Not 100% sure. I have seen them list other properties rehabbed from bank.
Also Loring is dreaming w/that price. I think they got sucked into a portal that took them back to 2006. Either that or they’ve been in a coma since then and just woke up unawares of what’s happening w/banks, etc.
Loring was scheduled to foreclose, as I indicated 1067 Loring on Jan 20. I haven’t followed up. Might have been postponed.
I have seen the one on Curlew. It’s been on and off the market for a very long time. Last sold 02/12/2002 for $325,000. IMO, priced way too high. Ascent Real Estate, Inc. I think, got it from the bank. Not 100% sure. I have seen them list other properties rehabbed from bank.
Also Loring is dreaming w/that price. I think they got sucked into a portal that took them back to 2006. Either that or they’ve been in a coma since then and just woke up unawares of what’s happening w/banks, etc.
Loring was scheduled to foreclose, as I indicated 1067 Loring on Jan 20. I haven’t followed up. Might have been postponed.
I have seen the one on Curlew. It’s been on and off the market for a very long time. Last sold 02/12/2002 for $325,000. IMO, priced way too high. Ascent Real Estate, Inc. I think, got it from the bank. Not 100% sure. I have seen them list other properties rehabbed from bank.
Also Loring is dreaming w/that price. I think they got sucked into a portal that took them back to 2006. Either that or they’ve been in a coma since then and just woke up unawares of what’s happening w/banks, etc.
Loring was scheduled to foreclose, as I indicated 1067 Loring on Jan 20. I haven’t followed up. Might have been postponed.
I have seen the one on Curlew. It’s been on and off the market for a very long time. Last sold 02/12/2002 for $325,000. IMO, priced way too high. Ascent Real Estate, Inc. I think, got it from the bank. Not 100% sure. I have seen them list other properties rehabbed from bank.
Also Loring is dreaming w/that price. I think they got sucked into a portal that took them back to 2006. Either that or they’ve been in a coma since then and just woke up unawares of what’s happening w/banks, etc.
Loring was scheduled to foreclose, as I indicated 1067 Loring on Jan 20. I haven’t followed up. Might have been postponed.
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