Bank Owned Condo At The Parc, Last Sale $522,950, Now $354,900 (Investment Analysis)

 

 

The Parc Exterior Bank Owned Condo At The Parc, Last Sale $522,950, Now $354,900 (Investment Analysis)

Looking for a bank owned condo? How about at the Parc in Belltown.

Unit #627, sold for $522,950 in 2008. Now post recession, it has gone on the market this week for $354,900! It has a courtyard view from the private deck, dual vanity master bath and island kitchen. At $355 per foot for a 2 bedroom, I’d take a look. Maybe you could purchase it, rent it and hold it as an investment. You should be able to rent it for $2,300-$2,400 per month.  With a down-payment of  $71,000 (20%) and today’s rates, it could look like this:

More listing details here

Monthly Mortgage Payment$1,236
Property Taxes $228
Homeowners Insurance $50
Homowners Dues$537
Total Payment$2,051
Estimated Rent$2,350
MONTHLY CASH FLOW$299 per month
ANNUAL RETURN$3,588