La Plata ReduxEveryone remembers las week's Sunny Side of The Street post where we compared two neighbors looking for a buyer. Turns out the the "nice" 2865 is also for rent. Let's see how renting does as an investment strategy:
3 Bed, 3 Bath
2,036 Sq. Ft.
Sold new 05/14/2001: $416,000 We'll go with all the usual assumptions. Mortgage is ~$310,000 which is ~$1800/mo. Taxes are $380. Mello-Roos/HOA guessing a low $250. Call it all in $2500/month. This idea cash flows if they can actually get the $2900 for a house that is also for sale ($749,000). In fact given my conservative estimates I'd bet the expenses on this house are exactly $2900/mo. This is called needs based pricing. Good luck with that.