Ouch. 1 month later, still no takers on this CV townhome.

[pencilneck]

If you bought this place for $300-350k I don’t think you’d save vs rent (or even come close to breaking even). A place like this is going to have steep HOA fees as well. If you add these fees to the interest payments, It would probably have to sell for much less to beat renting.

My opinion. I haven’t looked at these particular numbers too carefully.

[pencilneck]

If you bought this place for $300-350k I don’t think you’d save vs rent (or even come close to breaking even). A place like this is going to have steep HOA fees as well. If you add these fees to the interest payments, It would probably have to sell for much less to beat renting.

My opinion. I haven’t looked at these particular numbers too carefully.

[pencilneck]

I just looked at the numbers and they are worse than I thougt:

HOA: 210
Mello Roos: 791
total: $1001

Even when this condo is paid in full, it will still cost at least $1k a month “rent.”

Not much incentive to an investor when the most you could charge a tenant is $2k, tops.

[pencilneck]

I just looked at the numbers and they are worse than I thougt:

HOA: 210
Mello Roos: 791
total: $1001

Even when this condo is paid in full, it will still cost at least $1k a month “rent.”

Not much incentive to an investor when the most you could charge a tenant is $2k, tops.

[no_such_reality]

The mello-roos is an annual number. HOA and Mello-Roos will run about $270/month. Property tax at $350K will be another $300/month. All total, call it $650 in HOA & Taxes per month.

That leaves roughly $1350 after-tax to pay the mortgage. Which at 25% Fed and 9.3% tax will push the mortgage payment to around $1900 before tax break. So roughly $300K with as little as 5% down, or $350K with 20% down.

[no_such_reality]

The mello-roos is an annual number. HOA and Mello-Roos will run about $270/month. Property tax at $350K will be another $300/month. All total, call it $650 in HOA & Taxes per month.

That leaves roughly $1350 after-tax to pay the mortgage. Which at 25% Fed and 9.3% tax will push the mortgage payment to around $1900 before tax break. So roughly $300K with as little as 5% down, or $350K with 20% down.

[pencilneck]

Thanks no_such. My calculations (if you could call them that) were certainly faulty.

[pencilneck]

Thanks no_such. My calculations (if you could call them that) were certainly faulty.

[Author]

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