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Approximate Expense Calculations for a 3 bedroom Villa in Sea Pines
Purchase Price $600,000.
Purchase Price & Loan Payments
Sales Price $ 600,000.00
20 % Down $ 120,000.00
$ 480,000.00
monthly principal & interest @6%-30yrs. $ 2,878.00
X $ 12
Annual Principal & Interest $ 34,536.00
Annual Operating Expenses
2008 Property owner Assoc. fee $918.00
Estimated Insurance $ 3,000.00 sometimes included in Regime fee
Estimated Contents Insurance $ 1,000.00
2008 Estimated Taxes $ 6,973.00
Total Annual Estimated Expenses: $11,891.00
Monthly Expenses Estimated
Regime fee (condo fee) $ 380.00
cable TV $ 52.00
Telephone & DSL $ 75.00
Electricity $ 150.00
Landscaping (included in regime)
Pest Control (included in regime)
Pool Maintenance (included in regime)
Trash Collection (included in regime)
Water & Sewer $ 75.00 (sometimes included in regime)
Sub-Total x 12 months: $ 732.00
Total Monthly Estimated Expenses: $ 8,784.00
Annual Budget
Principal & Interest $ 34,536.00
Annual Expenses $11,852.00
Monthly Expenses $732 X12 months $ 8,784.00
$ 55,172.00
Cash Flow of Property
Gross Rental Income (Approximate) $ 28,000.00
Management fee approx. 25% $ 7,000.00
weekly cleaning fee (-$150. X 20 weeks) $ 3,000.00
Net rental income $ 18,000.00
Annual Budget $ 55,172.00
Annual Cash Flow $ (37,211.00)
Monthly Cash Flow (divided by 12 months=) 12
Estimated out gain or loss monthly: $ (3,100.91) |
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