Need a lot more info to give you a proper assessment, but the seller (or broker) is clearly understating expenses.

If I buy and hold, I want as many fixed costs as possible- you never know when the condo fees increase, special assessments, etc.  

I have been following sale and creating my own databases of comps with all property details, such as beds, baths, total rooms, lot size, garages or not, and assessed values and sale prices of all sold homes in Saugus.

Income is assessed at your bracket rate, but only after depreciation, interest, and other deductions effectively shelter (or tremendously lower) exposure.3.

Babiak's assessment.

But you have to make your own assessment of the long-term prospects.Congrats on all the prior success, and buying when things were low..

I can give you my assessment on it if you would like.  

The assessed "value" of this home, is $550,000, although there is absolutely no chance that this home could even come close to that if listed in today's market.A release of mortgage was issued by the bank in 2005 for the value of $440,000.  

One home may not be comparable to another and vice versa.From personal experience, I find park managers/owners and mobile home dealerships to be a good source of information when assessing values. 

Back taxes are paid and they've lowered the assessment.