HomelessinSD wrote:A coherent response from TDMA would be too much to expect. I have ran some figures that I can share. Assuming the same interest rates, $1 million downpayment, $4 million home and over a 5 year period:
Homeless, your example seems to be extreme - either you're getting an exceptional deal, or your landlord doesn't know better (or care about getting market rent). Or market rents in the westside are not worth the hassle of renting them out.
I have a couple of perhaps more common examples:
- house next door to mine, recently appraised at ~1.3M, currently rented out as 2 different suites for a combined total of $3200/month (1700 up, 1500 down)
- friend recently leased a 1000 sf condo in Coal Harbour, fully furnished, for 50,000 for 12 months (~$4166/month). I don't know what the appraised value is, but lets say its 1.5M? 2M?
From what I know of the market, these seem like more common examples. I don't have time to run the numbers, but if you do I'd be interested in the same evaluation.