How Does The Math Look?

A buddy of mine texts me a picture of this house every few months when he’s driving through the neighborhood to his friend’s house.

He was there the other day — this time to watch the NFL Draft.
(Poor guy’s a Cowboys fan. “This is our year!”… since 1996.)

Anyway, back in 2018, he toured that house with me.
Loved it.
Wrote an offer.
We won it against multiple offers.

Then… he got cold feet before the inspection.
Thought he was spending too much.
So he backed out and rented a shiny apartment instead.

Fast forward to today: That house recently sold for $600,023.

He texted me asking what the math would look like if he’d stayed the course.

Here’s the math:
• We were in contract at $426,000.
• His rent back then was about $2,100.
• Today, it’s $2,550 (Portland rents are up about 21% since 2018).
• He’s spent around $185,000 on rent over the past 7 years.
• If he’d bought, he’d be sitting on roughly $259,000 in equity — plus whatever he paid down on the mortgage.

The NFL Draft might be unpredictable… just ask Shedeur Sanders.
Real estate? A little more steady.