... ¼ partnership for sale in the Albuquerque paper, priced at 20K. No real info in the ad, though. Is this within reality, assuming the plane is in annual, good condition, and IFR equipped with decent avionics?
Yes. In fact that's a pretty good deal. Mooney M20J 201s are in high demand, as they're relatively easy to maintain (factory is still around for parts, lots of mechanics have worked on them, they're pretty simple systems-wise, no turbos, etc), they're nice IFR traveling birds, and they're nice and fast and very efficient, doing around 160 KTAS on 10 gph.
The M20J is considered the "sweet spot" in the Mooney line, extracting its excellent performance from a mere 200hp Lyc IO-360. The older birds are slower, the newer birds are heavier and burn more fuel. For example, my M20R is 170-175 KTAS, but burns 12 gph. Still very good, but still only 14.5 nmpg vs. the 16nmpg of the J.
Taking a quick glance on Controller, $70K is the
low end and will get you one with a mid-time engine, but a crap panel and original paint. Color moving map GPS and ADS-B in the panel, good paint and a 200-hour engine will
run you $100K. Want one with a GTN and some glass? Good luck. They move so quickly, even at high prices, that they're pretty much not on the market for more than a few hours.
