Rents for 2BR/2Ba apartments in Clairemont can be between 1100 to 1400.
If you owe less than 180K at 6% or less (or owe less than 200K can refinance these days at rates around 5%), then you can start making a case for renting it out if you can get 1300 – 1400 in rent. You will be reasonably cash flow neutral at that point, accounting for tax benefits and principal paydown. BUt will have out-of-pocket expenses if you use a management company and for any repairs.
But again, this in only a guess without the actual numbers.
If you can rent these out at 1300-1400 and purchase for under 200K, it might start making sense for self-managed investors as long as investor owned rates are in the 6% or less range.
