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Estimated
Costs and Projected Income for gated resort Villas |
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Item |
4BR |
6/7 BR |
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Wks to cover costs |
4BR |
6 BR |
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Price |
$225,000 |
$300,000 |
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Weeks needed |
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Percent Down |
20% |
20% |
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Management |
30 |
30 |
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Down Payment |
$45,000 |
$60,000 |
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Owner's rentals |
0 |
0 |
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Mortgage |
$180,000 |
$240,000 |
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Total |
30 |
30 |
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Rate Factor |
0.67% |
0.67% |
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Still needed |
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PI |
$1,200 |
$1,596 |
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Insurance |
$125 |
$130 |
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Taxes |
$250 |
$350 |
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Results @10% Down |
4 BR |
6 BR |
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PITI |
$1,575 |
$2,176 |
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Rental Income |
$28,200 |
$38,400 |
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Mthly Operating |
$800 |
$1100 |
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Total Monthly |
$2,375 |
$3,176 |
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Annual |
$28,500 |
$38,112 |
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Total |
$28,200 |
$38,400 |
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Cash Needed |
4 BR |
6 BR |
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Less Annual costs |
$28,500 |
$38,112 |
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Down Payment |
$50,000 |
$65,000 |
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1st year gain/loss |
-$600 |
$288 |
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Closing Costs |
$1,000 |
$1,300 |
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Reserves for Taxes |
$1,050 |
$1,350 |
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Reserves for Ins |
$375 |
$390 |
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Recording fees |
$2,000 |
$2,600 |
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Rentals will offset costs
each year. |
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**HOA |
$1,660 |
$2,158 |
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Furniture |
$25,000 |
$32,000 |
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Total |
$81,085 |
$104,798 |
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Total Cash needed |
$81,085 |
$104,798 |
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** Assumes June closing to
end of year |
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Above figures are for
example ony. Estimated costs and projected income
provided by management |
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companies that are deemed to be relaible.
All figures are for example only. Your results will vary. |
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No guarantees as to income
are stated or implied. |
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Rental rates are at $940
per week for 4 bed, $1280 per week 6/7 bed. |
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These are figures
generated from management company websites after their commission, so net to
you. |
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