To start let’s look at the 2C comp which closed at $512,000 dollars 4/2011. I am going to use a price per share comparison, 800 shares ($640 per share) for 2C and 850 shares ($704 per share) for 3C. If we just look at the close per share price that puts 3C value at $544,000 dollars I’ll add in $25,000 for kitchen and bath and $5,000 for 1 floor up that gets 3C to about $574,000 dollars; that sounds about right to me (max I would want to pay).
I like the space, location and condition. My only concern would be the exposure, if as Christian pointed out to me all the windows are facing a wall or small courtyard; this is a big issue for resale, even if you don’t mind. If there is no view but good indirect light this helps quite a bit and then at the right price would be OK. If it has no view and no light I would not recommend a purchase.