gn, both of those condition are speculation. All I know is that rent for these house last year were on average about $100/month cheaper and these rental are getting snapped up pretty quickly. So I don’t see the rental demand vs supply reversing. I never meant to say that it pencil out as a rental, but it does pencil out as a principal resident for someone who want to buy now. Base on your 20% down, PITI – Tax deduction, I get, about $1300/month (assuming you’re in the 37% tax bracket and 1.1% property tax rate). So, where can you rent a 3bed/2bath house in MM for $1300/month? I’d love to know, cuz I’m looking for a 3bed/2bath house to rent in MM right now.
Also, I’d love to know how you come up w/ the $200-250k # as the bottom and which interest rate you use. Since at today’s rate, you’re talking about P+I = $960-1200/month.
