At $320k assuming 0% down and 6.25% interest rate, monthly mortgage would be $1970. After tax deduction + tax + HOA(assume $200) = $1664. @ 7%, it goes up by $150. If you just consider the interest alone and compare it to rent, interest would be between 1650-1800/month. Add in tax deduction & HOA, that’d be $1500/month. I’d think it would be a fair price around $320k if that’s the kind of rent it fetches.
