$431,000

Fourplex 3

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Break Down:

Purchase Price: $431,000

Down payment (20%): $86,200

Original Mortgage: $344,800

Renovation Cost: $100,000

Refinance Amount: $760,000

New Mortgage: $608,000

Original Mortgage: $344,800

Original Down payment: $86,200

Renovation Budget: $100,000

Carrying Costs: $10,000

Closing Costs: $8,000

Result: All Capital Out PLUS $59,000

Cash Flow:

Income: $5,075

Main - 1 Bedroom: $1,275

2nd floor - 1 Bedroom: $1,275

Loft - 1 Bedroom: $1,275

Basement - Bachelor: $1,000

Parking: $150

Laundry: $100

Expenses: $3,723

New Mortgage Payment: $2,563

Property Tax: $259

Insurance: $170

Gas: $175

Hydro/Water: $150

Property Management: $406

Cash Flow: $1,352/month, $16,219/year

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