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Updated almost 11 years ago,
Another what would pay? question for 3/2 condo
3/2 end-unit condo in nice B area (across the street from A+ area), good schools, HOA docs and situation are satisfactory. Unit is about 1,200 sf. DFW area.
Currently rented at $935/mo
Lease ends June 1
Unit in good shape but after the current tenant leaves, I could possibly improve flooring ($1,500) and counters ($500), which would increase rent to around $1,025+
HOA fees of $275 (water, trash, insurance, exterior maintenance)
Landlord insurance $70/mo
Property taxes $80/mo
We would finance 80 percent at 4.8 percent (bank has OK'd low loans)
So what would you pay for this?