702 CASSIA St Redwood City, CA 94063 – Almost Worth Buying?

 

702 CASSIA St Redwood City, CA 94063

Price: $448,000

Beds: 3
Baths: 1.5
Sq. Ft.: 1,815
$/Sq. Ft.: $247
Lot Size: -
Age (Years): 34
Year Built: 1974
Type: Townhouse

Days on market: 154
Okay this isn’t exactly a home seller in trouble since the last sale date was 1991 and it sold for 225k. However, this townhouse has been listed for more than 5 months and suffered a pricecut of around $150k. At the current price, it is almost worth buying. If you put $90k down and get a 30 year mortgage at 6.75% the monthly mortgage would be around $2300. That’s about the amount of rent you need to pay to rent such a place. Of course, there is an HOA of $175 and property taxes of around $300 to $400 a month. However, those fees should be covered by the tax rebate on the interest for the first few years. So I think this property is almost worth buying. What do you think?

August 8, 2008 | Filed Under Almost Worth Buying?, City of Redwood City, Listing in 03/2008 

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