If you are a homeowner, considering either renting or selling your home,the clarifications to your 1st & 2nd statement are as below:-
1. Whether a market-based rental price covers a home owner's mortgage depends on the home owner's INDIVIDUAL financing situation. i.e.. if the current loan or payment is based on a high borrowed amount , home equity line of credit & the monthly payment for the same.
This helps you decide if it is worthwhile renting the home or selling would be a better option.
2. The location, condition, features & updates & market conditions dictate what it could sell for.
To find out what your home is currently valued at, please contact directly for a No-Obligation Valuation.
As a former Franklin Township resident, I can also offer insight into LOCAL market trends.
Shalu Thaman- Realtor,ePRO,SRES,ABR
Keller Williams Real Estate