Duplex Calculations Analysis

[Alex Kovalenko]

OK Tell me if I am doing my numbers correctly.. I will calculate in US $ even though buying in Canada - since I think most of you are in US.

Legal duplex (2 separate 2 bedroom apartments)

Price $295k but I will try to get it for $250k-$260k

Rents now for around $1.2k and $1k = so about $2.2k in rent for both

Annual Expenses: insurance $800; mortgage $10,800 (2% fixed in Canada, $50k down $200k mortgage); misc repairs $2.5k a year; property tax $2k

Annual Profit: $26.4k

$26.4k-$16.1k = $10.3k (cashflow $850 a month)

Anything I am missing? seems like a good investment, no?