Cost Analysis for 31 Fletcher Avenue, Unit 11

Scenario #1: Purchase Price of $520,000 and interest rate of 5%

List Price $559,000

Purchase Price with Estimated 7% Discount on Sale $520,000
Down Payment $100,000
Total Mortgage Amount $420,000

Monthly Mortgage Amount (30 Yr Fixed at 5.07%) $2,270

Monthly Condo Fee $151
Moonthly Estimated Taxes (based on 2009 asessment) $609
Other Maintenance Expenses (est $1,000 annually) $83
Total Monthly Costs $3,114

Total Monthly Rental Income $3,000

Diff $(114)

Scenario #2: Purchase Price of $503,000 and interest rate of 4.53%

List Price $559,000

Purchase Price with Estimated 10% Discount on Sale $503,000
Down Payment $100,000
Total Mortgage Amount $403,000

Monthly Mortgage Amount (30 Yr Fixed at 5.07%) $2,049

Monthly Condo Fee $151
Moonthly Estimated Taxes (based on 2009 asessment) $609
Other Maintenance Expenses (est $1,000 annually) $83
Total Monthly Costs $2,893

Total Monthly Rental Income $3,000

Diff $108