You also forgot the opportunity cost of your down payment. If it’s 20% of 325K, that’s 65K which would get you 3250/yr at 5%. Of course you’ll pay tax on that, let’s say 27% leaving you 2372/yr income on your money, just under $200/mo for keeping your money safe in a money market account. So your $1800/mo rent (probably realistic rent for a $325K condo) is really only $1600/mo.
There is no way that a $325K condo rents for $2100/mo. Maybe people are TRYING to rent them for that, but it would be rare for them to get that. I rent a nice place that would sell for at least $750K for less than $2500/mo.
You can’t find quality 2 bedroom condos for $325K in San Diego. However, for $1800-$2100 you can rent luxury 2 bedroom apartment. I live in La Mesa and I pay $1650 for luxury 2 bed rooms apartment. Some of the apartments have been converted, about 2 years ago, to 2 beds condos at the starting price of $359K. The sales are very slow and I think they may revert condos back to apartments.
You can’t find quality 2 bedroom condos for $325K in San Diego. However, for $1800-$2100 you can rent luxury 2 bedroom apartment. I live in La Mesa and I pay $1650 for luxury 2 bed rooms apartment. Some of the apartments have been converted, about 2 years ago, to 2 beds condos at the starting price of $359K. The sales are very slow and I think they may revert condos back to apartments.
You can’t find quality 2 bedroom condos for $325K in San Diego. However, for $1800-$2100 you can rent luxury 2 bedroom apartment. I live in La Mesa and I pay $1650 for luxury 2 bed rooms apartment. Some of the apartments have been converted, about 2 years ago, to 2 beds condos at the starting price of $359K. The sales are very slow and I think they may revert condos back to apartments.
You can’t find quality 2 bedroom condos for $325K in San Diego. However, for $1800-$2100 you can rent luxury 2 bedroom apartment. I live in La Mesa and I pay $1650 for luxury 2 bed rooms apartment. Some of the apartments have been converted, about 2 years ago, to 2 beds condos at the starting price of $359K. The sales are very slow and I think they may revert condos back to apartments.
You can’t find quality 2 bedroom condos for $325K in San Diego. However, for $1800-$2100 you can rent luxury 2 bedroom apartment. I live in La Mesa and I pay $1650 for luxury 2 bed rooms apartment. Some of the apartments have been converted, about 2 years ago, to 2 beds condos at the starting price of $359K. The sales are very slow and I think they may revert condos back to apartments.
