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Heron's Watch Condos
- Thread starter barrett
- Start date
Bob
SoWal Insider
I think Bobby J knows Heron's Watch
Smiling JOe
SoWal Expert
I have a couple of friends who own condos there. I am a Realtor, but I am not a construction engineer, and cannot vouch for "sound construction" on any building. I can tell you that I haven't heard any negatives regarding construction on those condos.
As for "good investment," that depends on your definition of good investments, purchase price, interest rates, down-payment, rental income, occupancy rate, cash flow, and tax benefits.
As for "good investment," that depends on your definition of good investments, purchase price, interest rates, down-payment, rental income, occupancy rate, cash flow, and tax benefits.
beachmouse
Beach Fanatic
They were originally built to be affordable and nice workforce housing. Unless a flipper 'updated' the units, you're probably not talking granite/stainless, but something more modest.
Bobby J
Beach Fanatic
I have sold a few units in Heron's Watch over the years. Had a sale recently. I have never had any complaints from the buyers. I am a little surprised at how much they have dropped in value. There are three units in the complex under $120,000. Two of them are bank owned. I would think if this was in your price range and where you were looking it might be something worth taking a deeper look at. Looking at the MLS system the association fees range from $210 a month to $350 per month. If I remember correctly the correct fee is $350 per month. Maybe a little less. I would give the construction a B-.
Franny
Beach Fanatic
They are all two bedroom, two bath. The second building is much newer and may have higher dues. I would need to research this in the mls. I sold in the original building and also resold the unit. Both buyers were extremely happy with their condo.
Bobby J
Beach Fanatic
Not sure. It could be they are listed wrong. I will check it out.
There are like 7 total bldgs with 2/2s all just under 1,000 SF the last Phase 7 has stainless and granite and tile flooring. i beleive HOA is more like 267 or so but that was a couple yrs a go so insuarance has likely caused an increase. They rent for around $900/unit/month on long term....i dont think it would be good for vrbo short term type rentals....access to eastern lake with a small dock. At $120,000 per unit you are likely below replacement cost even with the modest construction found on most units. good luck