Eastpoint, the large condo on the Highlands hill which has a fantastic view of the ocean, has monthly fees of about $400+ per month. In my opinion, it is well worth it because it is the best one in the area. You can always visit most condo websites which will also tell you of what the monthly HOA fees are.... more
There are 2 developments with units available for sale: King James Court and Victoria Square. The prices in King James Court are $160,000-175,000 and in Victoria Square $220,000-$269,000. If you send me your email, I can forward you the listings.
Rentals available as of this moment are $1250 and $1500 for apartments.
Taxes in King James Ct are around $2200 and HOA fees around $350; in Victoria Square the taxes are $3100-$3600 and HOA fees are around $150/mo. So, whether you can break even or not will depend on your down payment.
You will need to put 20% down as an investment property, possibly less if you can qualify it as a second/vacation home.
I recently purchased another investment property that I got to to finance as a second home since I live in NJ. I can put you in touch with a few good mortgage people, too.
Reach out to me via my website. Good luck to you.... more