The purchase price of a property, land and improvement, was $1,625,000. you put 20% down payment...

The purchase price of a property, land and improvement, was $1,625,000. you put 20% down payment and the rest was financed. the mortgage is a 30 year loan at 6.5% principal-interest payment. taxes and insurance at the time of purchase are $18,000 each year. the vacancy rate is 8%, while the repair expenses averaged is $8,500 every year. you spend annually about $2,000 for miscellaneous and advertising costs. you manage the property yourself. determine the monthly cash flow from 30 unit apartment with monthly rent of $650 per unit. was it a good investment?

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jeff jeffy answered 1 year ago

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