Art Neuner, an investor in real estate, bought an office condominium. The market value of the condo was $$275,000$ with a $70\%$ assessment rate. Art feels that his return should be $12\%$ per month on his investment after all expenses. The tax rate is $$31\mathrm{.}50$ per $$1,000.$ Art estimates it will cost $$250$ per month to cover general repairs, insurance, and so on$.$ He pays a $$120$ condo fee per month. All utilities and heat are the responsibility of the tenant. Calculate the monthly rent for Art.

Note: Round your intermediate calculations and final answer to the nearest cent.