Thursday, July 30, 2015

Is $6500/month an appropriate rental price for a condo worth about $700000?


My wife and I own a luxury condo in the heart of a major city. We want to start a family so we want to move out into a house in the suburbs but we don't really want to sell the condo instead we would prefer to rent it out. We currently pay about $3,400 a month on the mortgage, interest, and property taxes so I figured i can make a $3000 profit a month renting it out for $6500. Do you think it's reasonable or is that too much?

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