Help with Analyzing an Investment

[Grant Huckestein]

All,

Need some BP help here! Looking to purchase a new construction 3bed 2 and a half bath condo that is 2518 sq ft. Purchase price is 382,000 and going 3% down. No homeowners insurance needed and the HOA is 180 that covers water/sewer and other maintenance. Stanley Martin says they are renting out these models for 2500$ but I do not have proof. My monthly payments are looking like 2200-2300 max.need help to make sure this is a good decision!

[Taylor L.]

Sounds like serious negative cash flow on a brand new property. What part of town is this in?