Quote:
Originally Posted by MillerTime GFG
A $500,000 detached home that will rent for $1,700? Yea I feel like that is pretty cherry-picked. Certainly not the case for homes I've come across.
I had a client buy a $388,000 downtown condo, which is a completely over-saturated market, rented out for $1,700.
I will attest there may be more of a gap in today's economy/market than what we're accustomed to.
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It isn't linear at all though. I have an inner city condo rented for $1450/month, that would be worth probably $230k.
The lower you get in price point the better deal owning tends to be.