This is breakthrough pricing

[an]

What can it rent out for? $1800/month? With the association fee, it still doesn’t make a lot of sense…
If it does rent for $1800/month, A $200k condo, if you down 10%, the mortgage would be around $1000/month + $321/month HOA, Tax + Insurance ~$300-400/month. You’re looking at $1600-1700/month. That will yield about $100-200/month in profit = $1200-2400/year. That’s 6-12% profit from the $20k invested from the very first year. That sounds pretty decent to me considering rent will most likely go up over time, which will increase your ROI. The question is, can it really fetch $1800/month in rent?

[sdnerd]

I don’t know that area very well, or what complex. Assuming that rents for $1,800 month (?) the #s are roughly:

Assuming 10% down @ 6% fixed, looking at roughly $1,400 to $1,500/mo. Today’s rates are a bit lower, so probably closer to the $1,400 range.

[sdnerd]

I don’t know that area very well, or what complex. Assuming that rents for $1,800 month (?) the #s are roughly:

Assuming 10% down @ 6% fixed, looking at roughly $1,400 to $1,500/mo. Today’s rates are a bit lower, so probably closer to the $1,400 range.

[sdnerd]

I don’t know that area very well, or what complex. Assuming that rents for $1,800 month (?) the #s are roughly:

Assuming 10% down @ 6% fixed, looking at roughly $1,400 to $1,500/mo. Today’s rates are a bit lower, so probably closer to the $1,400 range.

[sdnerd]

I don’t know that area very well, or what complex. Assuming that rents for $1,800 month (?) the #s are roughly:

Assuming 10% down @ 6% fixed, looking at roughly $1,400 to $1,500/mo. Today’s rates are a bit lower, so probably closer to the $1,400 range.

[sdnerd]

I don’t know that area very well, or what complex. Assuming that rents for $1,800 month (?) the #s are roughly:

Assuming 10% down @ 6% fixed, looking at roughly $1,400 to $1,500/mo. Today’s rates are a bit lower, so probably closer to the $1,400 range.

[sdnerd]

Looks like nautica and I were posting the same thing at the same time. 🙂

The property tax & tax write off cancel each other other, and do those 1x a year that’s why my monthly #s look better.

[sdnerd]

Looks like nautica and I were posting the same thing at the same time. 🙂

The property tax & tax write off cancel each other other, and do those 1x a year that’s why my monthly #s look better.

[sdnerd]

Looks like nautica and I were posting the same thing at the same time. 🙂

The property tax & tax write off cancel each other other, and do those 1x a year that’s why my monthly #s look better.

[sdnerd]

Looks like nautica and I were posting the same thing at the same time. 🙂

The property tax & tax write off cancel each other other, and do those 1x a year that’s why my monthly #s look better.

[sdnerd]

Looks like nautica and I were posting the same thing at the same time. 🙂

The property tax & tax write off cancel each other other, and do those 1x a year that’s why my monthly #s look better.

[EJ]

This rental for $1900 appears to be in the same building. It is a property manager so maybe the pricing is realistic.

http://sandiego.craigslist.org/csd/apa/609420174.html

It showed up three times, first post on March 12 (that was still available, it could be listed longer). The rental is advertised as the penthouse so it probably is not on the first floor. The $200k listing doesn’t say which floor. I don’t know which is better, top floor with the plane noise or bottom floor with the pedestrians looking through your windows. Square feet are not listed on the rental but it is a 2/2.

This might be a good check of the market for this building. There definitely wasn’t huge demand as it is has been on craigslist almost week (at the least). Lets see if gets rented at this price, I think it probably will.

Anyone know what the rent was before the conversion?

[EJ]

This rental for $1900 appears to be in the same building. It is a property manager so maybe the pricing is realistic.

http://sandiego.craigslist.org/csd/apa/609420174.html

It showed up three times, first post on March 12 (that was still available, it could be listed longer). The rental is advertised as the penthouse so it probably is not on the first floor. The $200k listing doesn’t say which floor. I don’t know which is better, top floor with the plane noise or bottom floor with the pedestrians looking through your windows. Square feet are not listed on the rental but it is a 2/2.

This might be a good check of the market for this building. There definitely wasn’t huge demand as it is has been on craigslist almost week (at the least). Lets see if gets rented at this price, I think it probably will.

Anyone know what the rent was before the conversion?

[EJ]

This rental for $1900 appears to be in the same building. It is a property manager so maybe the pricing is realistic.

http://sandiego.craigslist.org/csd/apa/609420174.html

It showed up three times, first post on March 12 (that was still available, it could be listed longer). The rental is advertised as the penthouse so it probably is not on the first floor. The $200k listing doesn’t say which floor. I don’t know which is better, top floor with the plane noise or bottom floor with the pedestrians looking through your windows. Square feet are not listed on the rental but it is a 2/2.

This might be a good check of the market for this building. There definitely wasn’t huge demand as it is has been on craigslist almost week (at the least). Lets see if gets rented at this price, I think it probably will.

Anyone know what the rent was before the conversion?

[EJ]

This rental for $1900 appears to be in the same building. It is a property manager so maybe the pricing is realistic.

http://sandiego.craigslist.org/csd/apa/609420174.html

It showed up three times, first post on March 12 (that was still available, it could be listed longer). The rental is advertised as the penthouse so it probably is not on the first floor. The $200k listing doesn’t say which floor. I don’t know which is better, top floor with the plane noise or bottom floor with the pedestrians looking through your windows. Square feet are not listed on the rental but it is a 2/2.

This might be a good check of the market for this building. There definitely wasn’t huge demand as it is has been on craigslist almost week (at the least). Lets see if gets rented at this price, I think it probably will.

Anyone know what the rent was before the conversion?

[Author]

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