After I factor in the rental of the granny flat it is cheaper than my current rent.
It seems the going rate for 1b/1ba in Lakeside is 700-800 a month. My place is a 3/1 main house (only about 1000sf) and two 1/1 approx 500sf units (1 of which is attached to the main house, over the garage). I figure, worst case if I am unemployed I can rent out the over the garage unit (planning to use it as a guest house/family room/study/escape from kids room for now). That would come close to covering my monthly PITI completely. The ability to hunker down for minimal cash flow if required is what really sold me on the place and why I have been looking at multi-family properties.
This assumes my tax base is reduced to the purchase price (not 100% sure it will be). 2009/2010 taxes are 500 per month instead of 260 per month which my purchase price and local tax rate would imply.
