The noun GERBIL has 1 sense: 1. small Old World burrowing desert rodent with long soft pale fur and hind legs adapted for leaping. Familiarity information: GERBIL used as a noun is very rare.
The value of the house today is between $425,000 and $490,000. The house is currently rented for $2,500 per month to long-term tenants ($30,000 per year). They are on a month to month lease. Taxes of $5,925.04 were paid in March 2010.
If your home is now worth $320,000, then by subtracting the $100,000 that you still owe the bank, you can figure that you now have a home equity of $220,000. Your home equity is an important figure if you are considering requesting a second mortgage or other loan from the bank. The value of your home becomes the collateral for the amount you want to borrow.