So I plugged it into the Rent vs. Buy calculator...
You could pay $21k per year, with probably $5k in upfront costs to rent the loft. Or pay $24k per year to own it, with $65k up front. And take on all the risk of the market decline (or increase!).
Here's the listing in case the craigslist listing gets pulled:
$1750 / 2br - Be the first to live in this beautifully designed building (Portland) (map)
The building is centrally located a short distance to several North and Northeast Portland retail areas including the Mississippi Historic district and Alberta Street. Major connector streets to downtown, Northwest Portland and freeway entrances to I-5 and I84 are within blocks. MAX light-rail train on Interstate Avenue is minutes away as is Portland Community College campus.
The units include floor to ceiling double sliding glass doors to connect the kitchen and living space to the private front alleyway, making the space feel larger while providing a place to dine or relax just outside your door. An aluminum grate floor above the first floor, allows light to reach farther into the ground floor while encouraging airflow up through the entire unit. The second floor is one large light filled space with a smaller bedroom or office space on the north side. The third floor master bedroom has a floor to ceiling window with an etched lower section for privacy and a large closet along one end.
Also available are 2 Live/Work units with ground floor retail space. http://portland.craigslist.org/mlt/off/835690122.html (office & commercial) for information.
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