In terms of garages flooding in the complex, I would check the seller's disclosure of the unit you are considering as well as speak to someone on the board of the condo association as well as the management company. You may also want to speak to a few of the homeowners who currently live in the complex. Finally, you may want to check with the town offices and see if they have any information on the flooding history in Powder Mill Square. This would at least give you a good head start in terms of assessing the potential of flooding at the complex. A good buyers agent should help you with this as well in terms of helping you cover all your bases when doing your due dilligence.
In terms of whether the property is a good investment, this also can be a difficult question as it depends on what your investment strategy and goals are, how the property fits into your personal investment portfolio, how long you intend to hold the property for, your cost of financing, the purchase price, as well as whether you are purchasing purely for investment or for personal use...
Strictly looking at the real estate market however, you can find some excellent data on the Andover market here: http://www.beangroup.net/massachusetts/market-reports/essex-
And all the condos currently on the market in Andover here: http://www.beangroup.net/Search/MA/Andover/condos?frm=agt&am
Good luck with your decision and please let me know if I can be of further assistance in your property search!
One thing I like about Powder Mill Square is that you can walk to the train station as well as the downtown area. I always find that to be a plus.
As a buyer's agent I would recommend more due diligence. The management company should be able to provide the information necessary to determine if the water issue will be a road block to future resale. Buyers are very afraid of water and the issues that come with it. Even if you are covered by the insurance, you really need to look into what the past history has been to determine if this would be a good investment.
Feel free to contact me if you have any additional questions, Sincerely Kim
That unit looks pretty nice, as far as an investment. I would say Andover is a great community and even though we've been in a down turn with values the prices have remained solid!
Please let me know if you would like to see this place or any other condo's / houses in the area. Good Luck! Greg