Beach house buying and rental

I am interested in a condo a few blocks from a beach in East coast. 3beds/2baths, listed for $250K (valued at 650K in 2005). HOA is $215. Rental may mostly be good for the summer (3~4 months), $800~1200/week. Plan to put 25% down.

 

Pros:

Can be used as vacation house in the future (after retirement)

Potential capital gain in future (10 yrs down the road?)

 

Cons:

2.5 hour drive from my house

Possibly little or No cash flow

Week to week rental may be too much hassle (work)

 

Is this a good investment?

Anyone with a beach house for rental, please share your experience.

 

Thanks a lot for your input.