29 waterway #4

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SCARLETTE_IHB

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We've been eyeing this condo for awhile, even when it first listed for around 920K (if I remember correctly). We went to the open house and was quite impressed. The condo is well-kept, nicely upgraded, and borders on 3 sides by water. We thought for that price at the time, we could get a SFR with a small yard since we have children. Now, it's back on the market for 839K. Is it still way over-priced? What would a reasonable price be? I like the place because it's right on the lake; other than that it does not have any other great selling points. Opinions appreciated.
 
SCARLETTE said:
We've been eyeing this condo for awhile, even when it first listed for around 920K (if I remember correctly). We went to the open house and was quite impressed. The condo is well-kept, nicely upgraded, and borders on 3 sides by water. We thought for that price at the time, we could get a SFR with a small yard since we have children. Now, it's back on the market for 839K. Is it still way over-priced? What would a reasonable price be? I like the place because it's right on the lake; other than that it does not have any other great selling points. Opinions appreciated.
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Figure out what this would rent for and multiply by about 180. That would be rental parity at current interest rates. I would guess this bottoms between $650,000 and $700,000 depending on how far interest rates go up.
 
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