[quote=spdrun]There are properties in the area that will come close, if not cash flow.

e.g., a 2/1.5 condo went contingent last month at $200k. HOA about $250/mo. Landlord insurance, about $15/mo. Taxes about $200/mo.

Market rent is $1600/mo and it’s in an easy area to rent. That’s close to 7% pro forma. Catch was that there was an existing tenant there at $1300/mo, but if one had some patience, they could do well.[/quote]

Are you talking about the one in Santee?

*If so, asking price was 210 to 219k.
*Hoa is $300/month not 250
*Rent is $1500/month
*All comps are around $240-250k

Most importantly, this one came on the market day one as contingent, so it was never an open market sale.