Rent or buy? Running the numbers on a Bethesda condo

August 13, 2013

(Photo by Susie Kendzie)

In this market, it’s not always easy to tell whether it makes more sense to rent or buy. With the help of SteetEasy, a real estate information Web site that launched in the D.C. metro area earlier this year, we decided to compare a property that is for rent and for sale to see which is the better deal. In the case of this Bethesda condo, the difference is slight.

The one-bedroom plus den, two-bath unit is listed at $525,000, or you can rent it for $2,595 a month. It comes with garage parking, a roof deck and an exercise room. The listing agent is Bradley Rozansky of Long and Foster Real Estate.

(Photo by Susie Kendzie)
(Photo by Susie Kendzie)

The StreetEasy data assumes that a buyer would make a 20 percent down payment and take out a 30-year fixed-rate mortgage at Monday’s rate of 4.31 percent. Condo fees and taxes are included in the calculation, but not the tax benefits of buying (e.g., mortgage interest deductions).


(Photo by Susie Kendzie)

Address: 7710 Woodmont Ave., Unit 401, Bethesda

Sale price: $525,000

Maintenance/taxes: $506

Total monthly costs when buying: $2,587/month

Rental price: $2,595/month

Kathy Orton is a reporter and Web editor for the Real Estate section. She covers the Washington metropolitan area housing market.
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