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How do you compare apartment listings?

Started by NYCQuant
over 16 years ago
Posts: 4
Member since: Aug 2008
Discussion about
How do you compare two apartments with different prices, square feet, and maintenance? One way is to look at the "total monthly payment per square foot", i.e. you first calculate the monthly mortgage payment (say based on loan = 80% of Price, 6% rate, 30 year fixed), then you add in the maintenance, and finally divide by the square feet, to get the MonthlyPaymentPerSquareFoot (MSFT) number. I'd say that's the most reasonable way to compare apartment listings. Anyone agree/disagree, or has this already been covered somewhere else?
Response by NYCQuant
over 16 years ago
Posts: 4
Member since: Aug 2008

Looking at it this way, among all Current Upper East Side apartments larger than 1550 sqft, the median MSFT = $5.73. So apartments with MSFT (significantly) below this should be considered "attractively" priced, and those significantly above should be considered "expensive". Of course this ignores apartment condition, bldg amenities, etc...

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