$431,000
Fourplex 3
Get to Know
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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