AT $53 on the surface it seems like a good deal. With maintenance costs and property tax and insurance, it will cash flow after taxes, maybe $1000 per month.
BUT, what about the opportunity cost of the $53. I could spend $50 on lottery tickets and win $20 Mil.
Plus, prices are likely to decline another 9.43396% in this area, costing me another 5 bucks in future losses.
Why would anyone buy this now when they would be guaranteeing themselves $5 more in losses and passing up the opportunity at $20 Million ?
