I’ve definitely noticed the same few units with lock boxes on them for months now. I’m not sure if it’s dreaming sellers, or if the litigation is keeping people out. I think someone said FHA loans aren’t given when their is a lawsuit pending.
I’m honestly a little surprised at that price though. Especially with interest rates where they are today. That might be just a teaser price to get bids up. I’m pretty sure all the other 1 bedrooms are listed in the ~$180k range right now… that’s a pretty big undercut. It’s a middle floor unit, with the bad floorplan.. but still.
After 20% down, with today’s rates you are looking at a mortgage somewhere around ~$600. Throw in the HOA, and you are still under ~$1,000.
They rent from $1,200-$1,400/mo right now, with no 1 bedrooms on CL.
(Yes, I know rents are probably falling and most people don’t have 20% downs.. still seems too cash flow positive right now)
