The numbers still don't add up

A while ago, we profiled the prospect of owning vs. renting in a Northwood Pointe neighborhood in Irvine. Quick summary: Not a good idea to buy there right now.

This time, we're looking over in another Irvine area: Westpark.
The red X in this picture is 112 Costero Aisle, 92614. It's for rent on Firstteam.com for $1,800 a month.

Here are its stats:
2 beds, 2 baths, 844 sq ft
From listing: Model perfect!!! 2B 2B 1 car garage and 1 carport! Designer carpet, chiseled tile floors, crown molding, base boards, wood shutters, recessed lights, scraped ceilings, finished garage w/granite floors, washer and dryer included. Large patio with trees, next to a large park, close to pools & tennis. Inside laundry (Washer and Dryer included)Property available for occupancy effective AUGUST 1, 2007. MUST SEE HOME!! THIS IS A LOWER UNIT PROPERTY IN A GREAT LOCATION!

Your total monthly cost to rent: $1,800

The house graphic in that above map is 105 Alberti Aisle #323, 92614.
Size: 2 bed, 2 bath, 850 sq ft (built 1987)
MLS: S493361 (20 days on Redfin)
Current asking price: $424,900
Sales history: 06/15/2004: $403,500
12/27/2001: $217,000
10/15/1997: $132,500
05/14/1993: $143,000
01/12/1993: $160,305
07/14/1989: $161,000
11/17/1988: $134,000
From listing: Fabulous Buy! Popular Penthouse Floorplan in Beautiful Westpark! Immac ulate Condition! Light & Bright! Newer Wood Laminate Floors! Large Living Room w/ Fireplace! French Doors Open to Den/Office/2nd Bedroom! Convenient Indoor Laundry! Vaulted Ceilings! Spacious Private Balcony/View Deck! Excellent Location in Complex Near Community Pool/Spa, Garage & Carport! Truly One of Irvine's Best Locations! Close to Shopping/UCI/Employment Centers/Freeways/Parks/Bike Trails/Etc! Must See this Beauty!

Now for the monthly costs for owning, with the premise that a buyer is paying full asking price and putting 20 percent down.
$2,130 Principal and interest (6.375 percent interest rate, per ZipRealty.com-provided rate on a 30-year fixed loan)
$185 HOA dues
$409 Property tax (this number is based on current taxes and would increase slightly, but we're going to stick with this lower figure anyway)
$100 Insurance
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Your total estimated monthly cost to own: $2,824
Amount you save each month by renting instead of owning: $1,024