Michigan: Shelby Twp, Sterling Heights, Clinton Twp, Macomb

[Michael Jacobson]

Hello everyone, 

I'm looking to invest in a condo in one of these areas and wanted to get opinions on weather or not it makes sense. I'm looking to hold this condo for a long period of time probably closer to 10-15 years. I see that the prices now range from 120-140 K and taxes are around $1,600. A realtor told me I could rent it out between $1,000-1,200 a month. I've done the numbers and the mortgage payment would come out to around $800 per month which includes HO insurance and common charges. What is everyones opinion on this for a long term investment?