I think it's likely she is a first-time home buyer (we are talking about the decision to own for the first time) so take off 8K, 

He included in it the Condo fee and since this is a Condo not a home you can probably remove most of that $20k (I owned a condo for 5 years and had literally no extra maintenance cost beyond the monthly fee because I bought it with neutral colors and didn't update). 

Also you didn't account for a % increase on the $400k price but you did on the $50k investment.