Fermion
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Why does it need to be worth that much, in a hot rental market?
Our $290K townhouse was renting for $23K/year in 2013, and that was below market.
(Didn't stop us from selling the miserable thing, and good riddance, but that's beside the point).
My mistake, I was thinking he meant after paying the mortgage he was clearing $36k. For sure that would be a million dollar property.