Wowza, just relisted 10 days ago

928 Sapphire St #A (those that watched Fight Club may remember what the letters instead of numbers means)
San Diego, Ca. 92109

3 bdrm, 3.5 bath, 1316 sqft condo
Year Built: 1992
HOA: N/A (estimated $200)
Price per sqft: $494

Purchase Price (07/05): $731,250
Asking Price: $650,000 (I guess 650-725, but if no-one was biting at 695-774, you can assume the new price point is 650)

Not much to say about this one. BTW, 1713 Diamond (for those that were following that) has been relisted at $509k now. It has a new sign out front, and I believe the previous owner finally lost the fight and the bank is trying to sell it now. (it was purchased in 05 for $560k, but they had no bites at $515k).


Here's the breakdown on Sapphire:

Purchase Price	$731,250.00
Sale Price	$650,000.00
Association Dues	$200.00
Holding Period(mo)	21
Mortgage Paid	$83,179.69	(6.5% interest only)
Closing Costs	$4,000.00
Property Tax	$15,996.09
Estimated Monthly Rent	$2,100.00
Estimated Monthly Loss	$1,713.59	(if rented)
Estimated Monthly Tax Savings	$1,109.06	(using 28% tax rate)
Sales Commission	$39,000.00
Total Loss	$160,235.47