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New Here, Help with calculator for my property.
Hi! My wife and I own a house that we've lived in for 6 years. We are now moving to a new house and putting this one up for rent...hopefully. We are trying to use the calculators, but having trouble figuring how to factor in the fact that our house cost $229,000 when purchased, we now owe $180,000, and the value is now $350,000 or so.
We expect to rent it for around $2500 according to the surrounding area. Insurance is $2500/year, Taxes $6500/year, 3.25% interest rate 24 year loan remaining.
HOA is around $40/month.
Any help in plugging all that in and getting correct numbers?