When I had to replace my H2O heater, I looked at a tankless...but I decided to go with a standard 50 gal one...it was only $250 from lowes....and I can take two showers, a load in the wash and in the dishwasher all at the same time and still have hot water to spare...
So I could replace a 50 gal reg heater 5-7 times for roughly the same as one tankless...give or take...