Calculating Cashflow with the 50% rule

[Ricky Reese]

I'm currently crunching the numbers for properties in my area. I wanted to make sure I was on the right track. So for a single family home the value is $80k. The Principal and Interest for the mortgage is $292/month. The monthly rental income is $1150. The taxes are $78/monthly and the insurance is $42/monthly. Using the 50% rule to estimate expenses, would the estimated cashflow be $283?