Let’s use this home as an example:
https://www.zillow.com/homedetails/1182 ... 06406_zpid
Sales Price: 159,500
Down Payment: 31,900
Mortgage: $711 per month (P&I, Insurance, Taxes)
Rental Management Fee: $300 (Is this accurate?)
Rental Income: $2,000 per month (is this realistic for a 3 bed 2 bath?)
Net: $2,000 (rental income) - $711 (mortgage) - $300 (rental management) = $989 net.
I realize that above calculations might be optimistic, but maybe with repairs/maint., a higher maint. fee, and generally less optimistic numbers we’d be looking at netting at least $500 per month?
What do you think of this analysis?
Any help is appreciated!
PS. Here's my accounts:
- Cash - $7,000
- 401k\IRA - VTSAX (Vanguard Total Stock Market) - $48,000
- Roth IRA - VTIAX (Vanguard Total International Stock Market) -$20,000
- Taxable -VTSAX (Vanguard Total Stock Market Index Fund ) - $23,000
- Crypto (Ethereum) - $3,000
2018 investment plan (per month):
- Checking - +$250
- Savings - +$262
- Roth IRA (VTIAX) - +$459
- 401k (VTSAX) - +$1,916
- Taxable (VTSAX) - +$1,500
- Minimal CC debt (<1k)
- 15 year mortgage payment + HOA ($2,697 per month, $274,842.69 left on loan balance, 3.99% interest rate)
- Rental income ($970 per month)
- Int. and domestic stock accounts for ~90% of assets, cash ~10% (not including home in this mix)
- 28 years old