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.
Subtract your loan balance from your estimate of your homeâs value. Divide the difference by your homeâs value to determine your homeâs equity. If you determine that your home is worth $250,000 and your loanâs balance is $200,000, you have $50,000 in equity.Divide this by $250,000 and you get 20 percent.You therefore have 20 percent equity in your home.ivide the difference by your homeâs value to determine your homeâs equity. If you determine that your home is worth $250,000 and your loanâs balance is $200,000, you have $50,000 in equity.