Renting vs. buying
Finding Comparable Rental Properties:
(28% rule applied) Rental Property #1: Monthly Rent: $850/month Property Address: 920 W 28th St, LA, CA 90007 Rental Property #2: Monthly Rent: $600/month Property Address: 1051 Beacon Ave Unit 14, LA, CA 90015 Rental Property #3: Monthly Rent: $732/month Property Address: 5125 S Main Street, LA, CA 90037 Mean Rent of 3 comparable rental properties: $850.00 + $600.00 + $732.00 = $2,182.00/3 = $727.33 Address: 920 W 28th St, LA, CA 90007 Monthly Cost: $850.00 per month Annual Cost: x 12 = $10,200.00 5 Year Cost: x 60 = $51,000.00 VERSUS--My home: Monthly Cost: $807.55 per month Annual Cost: x 12 = $9,690.60 5 Year Cost: x 60 = $48,453.00
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