What do you guys think of this listing?

[fakewealthcreated]

MLS P730026. (pending) I'm thinking of purchasing in this neighborhood, but am apprehensive as I think pricing for this unit at the bottom will be around $200 per sq ft. or $300K. I believe this will rent for around $19-2100 Per month so a 160 GRM would price it around $320K. Peak pricing on these units was around $540K.  What price do you think this property will bottom at? What price would you currently pay for this property? What do you think of this neighborhood. Graph, maybe you can chime in since you're familiar with Orange.

Thanks for your feedback.

 

[irvinerealtor]

MLS P730026. (pending) I'm thinking of purchasing in this neighborhood, but am apprehensive as I think pricing for this unit at the bottom will be around $200 per sq ft. or $300K. I believe this will rent for around $19-2100 Per month so a 160 GRM would price it around $320K. Peak pricing on these units was around $540K.  What price do you think this property will bottom at? What price would you currently pay for this property? What do you think of this neighborhood. Graph, maybe you can chime in since you're familiar with Orange.

Thanks for your feedback.

I helped sellers sell one on Metcalf at the end of last year (P691319) -http://www.previewfirst.com/vt/flash_video/23854

Nice neighborhood, gated with community pool, no MR and relatively low taxes.  HOAs were running just under $200/month.
If I were buying there, I'd stay away from the side that backs to Prospect, and also hold out for one that has the the 2CG and the driveway space for 2 cars in front of it.

Good luck,
- IR2 (sometimes OR2)