[quote=sdnerd]
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)[/quote]
I think $1200-1400 is a little high for Lucera based on current rents I’ve seen. You’re talking about the 1BR ~600sqft units right? Seems like comparable conversion units (like at Verano, Vicenza and Venetian) are being advertised on CL for around $1000-1200. Lucera has a better location and is nicer for the most part though so maybe that would justify a slight premium but I still think that when you factor in upkeep the 1BR at Lucera is probably close to break even at best even with 20% down.
