If you can buy a condo for $50,000 what is the rental return per month?

Asked by Samcshepherd, North Hollywood, CA Tue Feb 11, 2014

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Don Tepper, Agent, Burke, VA
Tue Feb 11, 2014
It depends. It depends on the location and condition. It depends on the ratio of value to rental rates.

In many areas of the country (but definitely not all), you can rent a property out for 0.6%-0.9% of its value. In your example, the expected range could be $300-$450. But I know some places where you could buy a property for $50,000 and rent it out for $600 or more.

And with condos, don't forget to factor in the condo fee as part of your expenses.

For more information, check with a local Realtor.

Hope that helps.
1 vote
, ,
Tue Feb 11, 2014
Not sure where you are going to find a condo for $50,000 in North Hollywood. Are you sure it is for sale for that much. Email me with an address and I will check on it for you.

Alex Greer
Loan Officer
NMLS #1056079

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Trevolyn Hai…, Agent, Highland, CA
Tue Feb 11, 2014
If it is a coop, you should be aware that they may prohibit the use of the unit as a rental.
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