I noticed unit 1310 is listed on the market on July 3rd, 2012, this is a one bedroom plus den unit with 1 and a half bathroom. This is a bank sale unit with parking spot #101 included in the listing price which is $444,900. I showed the unit yesterday to a potential buyer and thought that this unit needs lots of work, the wood floor looks damaged, unit is dirty and not so much upgrades. So I would expect the price to drop further without getting an offer at the moment.
This unit can be rented out for around $2,300 to $2,400 per month.
Chandler is in the process of passing the new rental rules, looks like they would like to keep a renal cap of 49% and grandfather in for the existing owners to be able to rent out their unit and let the new investors to sit for 2 years before renting out their unit. The board meeting is July 19th and they will pass a timeline for the cut off date to execute the new rental rules, that means we have three building in the new eastside has the rental cap, the Park Millennium (222 N Columbus), the Regatta (420 E waterside) and the Chandler (450 E waterside). This is because the lending rule is for buildings with owner occupancy of 65% for Fannie Mae and Freddie Mac.