Bought a couple years ago in north county San Diego but had to relocate to the Bay Area for my current job. Current mortgage at my old place is ~$3.5k all including principal/interest + escrow (insurance, property tax etc) with a 2.875% interest rate. Never been a landlord before and obviously not a great time to be selling so curious how much would I need to get in rent in order to make it worth it to me and not losing $$$?

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Work it the other way. What’s the market rate for rent in that neighborhood?

If market rate is $3,200, then there’s no chance of cashflow. If you price your rent at $4k because that’s the number you need to hit to be happy, but nobody rents it because it’s too high for the neighborhood, you’ll be in a bad place.

Figure out what market rate is, then figure out if the numbers make sense. Personally, I’d try to hold it as coastal cities like San Diego tend to rebound from a potential recession much better than others, and I would expect your appreciation over 3 to 5 years to far outpace any potential deficit in cashflow that you might face (depending on the details of the property).

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2.875% interest rate?

HODL

Yeah refinanced at the best time so very lucky on that front

$3.5k 😂

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