Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property...
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Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property are $1,420 per month, $648 of which can be deducted from her income taxes. Her real estate taxes total $1,740 per year, and insurance costs $1,044 per year. She estimates that she will spend $1,092 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What monthly rent must she charge for each apartmen to break even? (Do not round intermediate calculations. Round your answer to 2 decimal places. Ignore any tax effects.) Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property are $1,420 per month, $648 of which can be deducted from her income taxes. Her real estate taxes total $1,740 per year, and insurance costs $1,044 per year. She estimates that she will spend $1,092 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What monthly rent must she charge for each apartmen to break even? (Do not round intermediate calculations. Round your answer to 2 decimal places. Ignore any tax effects.)
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To break even the total monthly income from renting both apartments must be equal to the total month... View the full answer
Related Book For
Personal Finance
ISBN: 978-0077861643
11th edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
Posted Date:
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