After some filler in the beginning, you’ll see a good example of how the “haves” are acting.
They prefer the quality locations, which is understandable (and recommended!). This building had been renovated by the seller, so that saves some time and money. In the off-season, you could probably get $3,000 or so in rents, but you’d be hard-pressed to call this a normal investment property bought for cash flow.
Nobody watching this would have paid the $1,250,000 peak price, but how many would have paid the current price? Yet after 32 days on market, a buyer came along and PAID CASH:
P.S. This same property sold for $680,000 in 2002.