Townhome but will the HOA kill the deal.

[Addison Perez]

Found a townhome in a A/B area with A rated elementary/middle schools (in middle of multiple school options [2 middle, 2 elementary] so that's a plus), in fairly desirable area 15-20 minute drive to beaches, popular outdoor shopping center. Looking for a quick estimate on the numbers. This would be first investment on the side so found something affordable for this area. Anything cheaper I'd be diving straight to D-rated school areas and higher crime rates.

Asking 60,000 can probably get for 50,000-55,000 due to recent sold and foreclosures in surrounding neighborhood.

2/2.5 1100 sqft. End unit of the building. Has washer/dryer.

Finance with 10% down.

Repairs less than 1k if any, remodeled new laminate floors and fixtures/sinks 2 years ago. Checked out the house but will see if inspection turns anything up.

My friend at a property management company says apartments next neighborhood down are asking 900/month for 2/2 900sqft. Can probably rent for 950.00.

HOA is 310/month. Includes basic cable and water and pool.

Can anybody provide what basic numbers could look like? I'd probably use a property manager too as friend can get me in on discounted 8% instead of the 10%.