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200k cash on condo ?

Hello

I have a 2 bed 1 bath condo in mind I am thinking about a potential offer. Asking price is 220k, it has no rental cap. 280$ hoa fees and 2180$ tax it is on the west suburbs of Portland Oregon on a max (subway) line. Takes 30 min to ride. Built in 2007. It is near the tech companies (potential educated renters)

I will move there, live in it and then may travel to overseas, in that case, I will need to rent it with as little headache as possible. My now realter will also be the property manager in the future when I rent the unit.

A conservative rent would be 1350$ could be higher too but I try to be conservative. Deduct 280$ for hoa and 200$ for tax, my rental income would be say 800$ (roughly)

Is this a good investment for someone who may move oversees and needs a reliable low maintenance, relatively newer condo ?

  • I do not have the full cash, I will take a personal loan and close it in 2 years for the %15 of the home
submitted by /u/GreenerCar
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source https://www.reddit.com/r/RealEstate/comments/ex2fep/200k_cash_on_condo/
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