My rent is 2450 in 4s for 2000 sq ft. Owner bought it for 530k in 2004. So assuming 20% down (106K), looking at a jumbo loan at 423k – not sure what rates were in 2004 but assume if lucky 6.5% would be 2960 a month for 30 yr fixed.
Taxes are about 1.7% plus HOA and insurance – add 750 a month or more – so renting for us is a good move. We are putting away 500-1000 a month plus our money from the sale of our home in DC in 04 is making another 400 a month.
