How much can I charge for $100 profit? newbie

[Jaiwoo Kim]

Hi! I have a 2bed 2ba condo in Lynnwood, WA.

I am thinking about renting this unit out. Mostly I hear $100 profit per unit is the rule of thumb.

My mortgage payment is $2033.68

- principal & interest $1387.23

- escrow $282.70

- pmi $63.75

- hoa $300

in this case Do I just charge $2133.68? What am I missing here? I know you have to see what other properties are renting out for and etc but I just wanna know how much rent I'd have to charge in order to make "$100 profit per unit" people are talking about.

Thank you for your help!!

[Kathy Johnson]

Don't forget to check market rate in your area and factor in maintenance in your cost calculations too.