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Purchase (Sales) Price $389,000
Down Payment 20% $77,800
Loan Amount $311,200
Annual Expenses
Mortgage Payment $22,375 (30 yrs at 6%-$1,864.60 per month)
Taxes (estimated) $6,700
Maintenance $6,720
Total Expenses $35,795
Estimated Rental Income
32 Weeks (avg) $1200/wk $36,000
Less Rental Management Fees (20%) $7,200
Total Income $28,800
Net Income -$6,995 (Consult your Tax Accountant for Tax implications)
Monthly -$582.92
Potential Appreciation (3%) $11,670
Notes:
All figures are estimates. Actual expenses and maintenance cost will vary. Consult your CPA or Tax Professional for your actual figures and tax advantages. Rental amount will vary based on property and market.
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