Average
net rental income for two- bedroom units in Aspen Square was $37,142 in
2007; but annual appreciation is the real story. The late William Day,
the only person to have ever owned this condo, purchased it in pre-construction
sales in 1969, after a friendly drinking bout at the historical Red Onion
Bar (seriously) for $32,500. Sober, he never made so good a deal. William's
appreciation, through December 2007, when he passed away, averaged an
estimated $60,740 annually---- in addition to his annual rental income.
In the past seven years alone, we estimate appreciation at more than $250,000
per annum.