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  • March 18, 2008 at 9:09 AM #12160
    housepoor
    Participant

    Porta D’Italia has been leading the way down in pricing this whole run. They are apartment/condo conversions and they are small. What was a 2 bedroom in Little Italy at the peak? $400k? $500k? This particular one sold for $421k in 06.

    How about today?

    http://www.sdlookup.com/MLS-086020484-1970_Columbia_St_513_San_Diego_CA_92101

    March 18, 2008 at 9:26 AM #172302
    ibjames
    Participant

    you see the association fee!?! yikes!

    March 18, 2008 at 9:26 AM #172637
    ibjames
    Participant

    you see the association fee!?! yikes!

    March 18, 2008 at 9:26 AM #172642
    ibjames
    Participant

    you see the association fee!?! yikes!

    March 18, 2008 at 9:26 AM #172661
    ibjames
    Participant

    you see the association fee!?! yikes!

    March 18, 2008 at 9:26 AM #172741
    ibjames
    Participant

    you see the association fee!?! yikes!

    March 18, 2008 at 9:33 AM #172312
    maybe
    Participant

    900 sq. ft, poor schools, planes overhead– It’s best use is as a rental unit.

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…

    March 18, 2008 at 9:33 AM #172647
    maybe
    Participant

    900 sq. ft, poor schools, planes overhead– It’s best use is as a rental unit.

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…

    March 18, 2008 at 9:33 AM #172650
    maybe
    Participant

    900 sq. ft, poor schools, planes overhead– It’s best use is as a rental unit.

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…

    March 18, 2008 at 9:33 AM #172672
    maybe
    Participant

    900 sq. ft, poor schools, planes overhead– It’s best use is as a rental unit.

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…

    March 18, 2008 at 9:33 AM #172751
    maybe
    Participant

    900 sq. ft, poor schools, planes overhead– It’s best use is as a rental unit.

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…

    March 18, 2008 at 10:01 AM #172322
    an
    Participant

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…
    If it does rent for $1800/month, A $200k condo, if you down 10%, the mortgage would be around $1000/month + $321/month HOA, Tax + Insurance ~$300-400/month. You’re looking at $1600-1700/month. That will yield about $100-200/month in profit = $1200-2400/year. That’s 6-12% profit from the $20k invested from the very first year. That sounds pretty decent to me considering rent will most likely go up over time, which will increase your ROI. The question is, can it really fetch $1800/month in rent?

    March 18, 2008 at 10:01 AM #172653
    an
    Participant

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…
    If it does rent for $1800/month, A $200k condo, if you down 10%, the mortgage would be around $1000/month + $321/month HOA, Tax + Insurance ~$300-400/month. You’re looking at $1600-1700/month. That will yield about $100-200/month in profit = $1200-2400/year. That’s 6-12% profit from the $20k invested from the very first year. That sounds pretty decent to me considering rent will most likely go up over time, which will increase your ROI. The question is, can it really fetch $1800/month in rent?

    March 18, 2008 at 10:01 AM #172662
    an
    Participant

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…
    If it does rent for $1800/month, A $200k condo, if you down 10%, the mortgage would be around $1000/month + $321/month HOA, Tax + Insurance ~$300-400/month. You’re looking at $1600-1700/month. That will yield about $100-200/month in profit = $1200-2400/year. That’s 6-12% profit from the $20k invested from the very first year. That sounds pretty decent to me considering rent will most likely go up over time, which will increase your ROI. The question is, can it really fetch $1800/month in rent?

    March 18, 2008 at 10:01 AM #172681
    an
    Participant

    What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…
    If it does rent for $1800/month, A $200k condo, if you down 10%, the mortgage would be around $1000/month + $321/month HOA, Tax + Insurance ~$300-400/month. You’re looking at $1600-1700/month. That will yield about $100-200/month in profit = $1200-2400/year. That’s 6-12% profit from the $20k invested from the very first year. That sounds pretty decent to me considering rent will most likely go up over time, which will increase your ROI. The question is, can it really fetch $1800/month in rent?

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