Realty II

I was not able to get in to the 22nd st and Highland townhouse because the key only opened a little storage area.  I did, however, check out a place on Central just north of Northern (on the Bridle Path!).  It was your basic townhouse, but I really liked it.  Decent kitchen, one and a half bathrooms, and a nice little enclosed back patio that opens up to parking and the neighborhood (not an alley or another complex).  It is going for $55k, but may have some weird HOA issues, so my realtor is looking in to that. 

Looked at the house.  No.  Just no.

Realty

Which do you prefer?

Option 1
Townhouse at 22nd St, a few blocks south of Camelback.  Complex is kind of older, sort of shabby.
Beds/Baths: 2 / 2
SF: 1,504
Kitchen Features: Disposal; Microwave; Pantry
Master Bathroom: Full Bth Master Bdrm; Double Sinks
Additional Bedroom: Master Bdrm Upstairs

Laundry: Inside Laundry
Dining Area: Formal; Dining in LR/GR
Other Rooms: Great Room
$52,000 with a $361 listed HOA monthly fee. (For reference, the mortgage payment on this would be around $287.15, so with the HOA it would be $648.15)

Option 2
House at 20th St and a few blocks south of Indian School.  Has a decent sized front and back yard with grass and trees.  Not a super awesome looking neighborhood (really close to the 51), but this particular street is really nice.
Beds/Baths: 2 / 1
SF: 620 (I don't really buy this after walking around it.  It looked more like 850 or so)
Kitchen Features: Range/Oven; Microwave; Pantry
Master Bathroom: None


Laundry: Wshr/Dry HookUp Only
Dining Area: Eat-in Kitchen
Other Rooms: Family Room
$70,000 but with no HOA.  The mortgage for this is $386.54 per month, but then I would also be responsible for yard maintenance and the upkeep of the outside of the house.


So it's a townhouse for $52,000, which is easier to rent but harder to sell, versus a house for $70,000.  The townhouse has two full baths, while the house only has 1.5.  The townhouse would have a lower mortgage payment, but a high HOA fee.  This may not be such a big deal, as the HOA would presumably be responsible then for lawn maintenance and the exterior of the place (this sometimes even includes the A/C).  Also, most HOA fees cover water and sewer as well.  So it might work out. 

Choices?