So basically it is very inexpensive to live there. And an increase of 3.8% is next to nothing in the game of real estate. Better off putting your money in the stock market for an average return of 10.8%.
That's assuming the Nicodemos are trying to flip the property. It can just as easily be rental or commercial real estate.
"I die outside; I die in jail. It don't matter to me," -John Franzese
