A blog for the Bloomingdale neighborhood in Washington, DC.
Depends entirely on the installation. www.viridiantankless.com
This plumber does Rinnai tankless installations. Steve Miller (410) 241-7001
We have one. We used Stephen Ali, who we use for all our plumbing. He is extremely fair, dependable, reliable, and honest. He charges you his cost for materials and then an hourly rate. His contact info is 240.423.2597 or email@example.com. He has a regular job (as a plumber) and does this stuf on the side, so he may not pick up but will get back to you. He also stands behind his work 100%. I can't recommend him enough (tell him Gregg sent you). As for the heater, get high quality (Rinnai) and big enough. We have never had an issue. Cost is slightly more than regular heater (maybe $1k more).
I say go for the tankless. The costs may be much higher up front (i.e. $350 vs $1500+) but many clients I have had who have them installed say they save $50-$150 per month in energy bills because the tankless doesnt consume power unless its being used. Plus if you live in a condo, depending on how the developer designed the unit, you could be gaining a closet out of the switch.Good luck!