Unit 4 rental projections
| Purchase price |
$425,000
|
| 10% down |
$42,500
|
| 80% loan |
$340,000
|
| 10% 2nd |
$42,500
|
Rental income of a 4 bedroom at $600 per bedroom = $2,400 per month potential income
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Projected Costs:
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| Interest only 1st at 6.5% |
$1,841.00
|
| Interest only 2nd at 6.5% |
$221.00
|
| Condo fee |
$260
|
| Tax (est'd) |
$170
|
| Total monthly operating costs: |
$2,492
|
| Monthly operating costs w/out 2nd: |
$2,271
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Units 2 & 3 rental projections
| Purchase price |
$389,000
|
| 10% down |
$38,900
|
| 80% loan |
$311,200
|
| 10% 2nd |
$38,900
|
Rental income of a 4 bedroom at $600 per bedroom = $2,400 per month potential income
|
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Projected Costs:
|
|
| Interest only 1st at 6.5% |
$1,685.00
|
| Interest only 2nd at 6.5% |
$210.00
|
| Condo fee |
$260.00
|
| Tax (est'd) |
$175.00
|
| Total monthly operating costs: |
$2,330
|
| Monthly operating costs w/out 2nd: |
$2,120
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