469 / #11 sold in 12/23/2002 for $150,000. I think that would suffice as an early 2003 sale.
I saw 3 early-2002 sales at $105,000 – $110,000, and an mid–2004 sale at $220,000.
Using a 150 gross rent multiplier on a $1,000 rent would equal the $150,000. Many investors would probably bite at that but some wouldn’t. A bottomed out $150,000 price would represent a -45% price adjustment off the peak.
