Condo Rental Analysis

[Monique Sison]

Hello,

I'm deciding whether to make a move on a 2 bed, 2 bath condo located in Fullerton, CA. It's listed for $390,000 with HOA fees of $320/month and property tax is about $4000/year. I have the ability to make a 5-7% down payment..

It has 1 master with attached bath and a 2nd bedroom. It also has a dining room with a door that can be turned into a third bedroom. I plan to live in the dining room area and rent the master for $1200 and the bedroom for $1100 for a total of $2300 in rental income.

Trying to figure out what I should offer for the property in order for there to be positive cash flow. Please help!