They would have paid over 120k in interest and they mayhave got back 30% of that – 36k. At least 1500 a month in tax, mello roos, hoa , maintenance & insurace – 72k. So the profit would be around 90k. The renter spent 120k on rent and saved about 80k (a net 40k loss). So its about a 130k spread.
Looks like people who bought in 03 are sitty pretty by all accounts. However, the almost identical house down the street sold for about 80k less than this one. So maybe there was a cash back on this deal.
