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Updated over 11 years ago on . Most recent reply

User Stats

16
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0
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Patrick Thomas Mc Manus
  • Real Estate Investor
  • Tampa, FL
0
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16
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What tax percentage should I factor into my equation?

Patrick Thomas Mc Manus
  • Real Estate Investor
  • Tampa, FL
Posted

Good morning dear BP members,

I am analyzing the below rental property deal in Florida:

Purchase Price : $ 50,000 (including closing, cleanup & rehab costs)

Amount Invested : $ 10,000 (with $40,000 Loan for 20 yrs @ 4%)

Est. Rent: $ 900

Running Costs:

Loan Principal: $ 167

Loan Int. & Fees: $ 87

Insurance: $ 75 (1.8% of property value)

Property Tax: $ 105 (2.5 % of property value)

Property Mngmt: $ 90 (10% of rental income)

Maint. & vacancy: $ 144 (16% of rental income)

Utilities & Upkeep: $ 0 (Paid by the tenant)

What tax percentage should I factor into my equation?

Are there any other running costs that I should be asking about?

Thank you.

Patrick

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