May 21, 2007

$1850 to rent a $585,000 house

I noticed this ad on Craiglist:

$1850 ***HOME***2 Bed / 1 Bath + Bonus Room w/Full Bath***HOME****
Great home on a beautiful 4000 square foot lot. Exceptional details of this home include:

2 Bedrooms, 1 Bath, recent remodeled kitchen, large secured back and front yard. Attached garage converted to studio (unwarranted) perfect for additional bedroom or home office. Large yard has water well available. Plenty of storage and large tool 15 x 12 tool shed. New Paint, and Carpeting. Kitchen appliances, window coverings and washer and dryer included.

·Two bedrooms and one bath.
·Additional unwarranted bathroom in garage, great for office or additional living quarters.
·Spacious kitchen plenty of newer cabinets, and counter tops.
·Large level back yard landscaped with garden area.
·This property includes a one car attached.
·Large and secured front and back yard.
·Recent work done to the home includes interior paint and carpeting.
·Conveniently located within walking distance to shopping center and freeway access.
·Extra storage throughout the home including large 15 X 12 tool shed
·All appliances included.

If you click the link, you’ll see that the house is none other than the one featured in early April on this blog:

What’s the 5th most affordable home in Redwood City like?

This is how I described it then:

Unfortunately, I was never able to enter the home. Why? Because I couldn’t find a parking spot!

Yep – on the day I was there, every inch of the street had been taken up by either a pickup truck, an industrial truck with landscaping equipment, a trailer, or an commercial van. Heck, I could barely find the house with all those tall vehicles on the street.

This is just a hunch, but I suspect that it hasn’t improved dramatically as of late.

But for fun, let’s do the math… according to this calculator, a 30 year mortgage w/10% down would run you $3442 a month. Or, if you got an Interest Only loan, it would be $2195 a month.

Hm… this calculator says that you will not break even after 30 years!

There’s just one mistake though: they forgot that Redwood City is special, that the equipment to detect illegal gun fire is working, and they’re not making any more Redwood City.

I bet you’ll break even after just 2 years. What do you think?

Click here to post a comment -- Posted by: burbed @ 12:28 am

No Responses to “$1850 to rent a $585,000 house”

  1. Jeremy Says:

    burbed,

    Just found this blog — this is a f*in hilarious site and I admire your wit.

    BTW – that house is absolutely teeny tiny, and they want 1/2 Million STILL?

    Heh heh… that’s great

  2. bub Says:

    ·Additional “unwarranted” bathroom in garage, great for office or additional living quarters.

    unwarranted WTF?

  3. Area 51 Says:

    Why the hell would a renter give a crap about unwarranted rooms and bathrooms? Better still, why would 4 illegal families give a crap about unwarranted anything? Plenty of concrete in front to park all the junk cars though….
    This place truly is “exceptional”.
    I notice it says: “This property includes one car attached”. WTF? I didn’t see a car attached to the house. What’s that supposed to be like a 50s diner or something?
    If they mean one car GARAGE attached, they already said that garage is converted. In any case, WTF!!!!!

  4. burbed Says:

    Personally I also like how the ad starts off by saying “Great home on a beautiful 4000 square foot lot.”

    If you’re not reading carefully, you might think it’s a 4000 sqft home.

  5. i8thekittypurr Says:

    Does it come equipped with bulletproof siding?

  6. Mark Says:

    I suppose you could use the lovely garden area in the backyard to grow some “herbs” to help supplement your income and pay down that 30yr int. only morgage.

  7. TNTinCA Says:

    I am amazed that the rental cost is that high, considering the location. It doesn’t appear to be a very desirable neighborhood.

    A friend of mine rents a 3 bedroom, 2 bath near Campbell and it goes for $1950. (1400 square feet)

  8. Norcalboomer Says:

    If you like concrete that is truly a beautiful front yard. Notice the driveway is ” wet”. Kind of like a ” wet T-shirt ” contest for concrete lovers. Oh, that wet concrete is so hot!!

  9. Norcalboomer Says:

    One last thing, I’m so glad they included the washer and dryer, because someone buying or renting ONLY a measly half a million dolar place can’t fork out $500-$1000 for a new washer and dryer!


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