Input Variables
Inflation expectation		2.00%			Down payment		30%
Purchase price		$230,000			Loan amount		$161,000
Initial monthly rent		$1,800			Interest rate (Fixed)		4.00%
Rental growth rate		2.00%			Mortgage initiation fee		$3,000
Property appreciation		2.00%			Loan maturity (years)		30
Insurance		$3,450			Mortgage Payment		$768.64
Maintenance		$2,300			Holding period (years)		5
Expense growth		2.00%			Selling expenses		6.50%
Marginal tax rate		25.00%			Invetments opportunity		8.50%
Property tax		$4,025
Option 1: Buy the house
Year			0	1	2	3	4	5
Out flows
Down payment + Origination			$72,000
Insurance & Maintenance				$5,750	$5,865	$5,982	$6,102	$6,224
Property tax				$4,025	$4,106	$4,188	$4,271	$4,357
Mortgage payments				$9,224	$9,224	$9,224	$9,224	$9,224
Total:			$72,000	$18,999	$19,194	$19,394	$19,597	$19,804
In flow
Tax benefits			$0	$2,603	$2,595	$2,585	$2,575	$2,564
Overall "out of pocket"			$72,000	$16,395	$16,600	$16,809	$17,022	$17,241
Other
Interest payment				$6,388	$6,273	$6,153	$6,028	$5,897
Principal payments				$2,835	$2,951	$3,071	$3,196	$3,326
House value			$230,000	$234,600	$239,292	$244,078	$248,959	$253,939
Total equity			$69,000	$76,435	$84,078	$91,935	$100,013	$108,318
Cash at time sold								$91,812
Option 2: Rent the house
Rent expenses				$21,600	$22,032	$22,473	$22,922	$23,381
Investments portfolio			$72,000	$72,915	$73,681	$74,279	$74,693	$74,903

Question: using Goal Seek alter the Buy vs Rent Excel Spread sheet so that it shows the minimum rate of appreciation the home owner must receive in order to be better off buying then renting. highlight in yellow the cell that includes this price appreciation rate