This is an example of the construction cost and shows cash flow once rented.
$2,000,000 would cover all construction, carry cost and the currant mortgage pay off.
Monthly Rental Income:
$800 x 6 one bedrooms = $4,800
$1,300 x 4 two bedrooms = $5,200
Commercial spaces.
$5,000 x 2 = $10,000
Parking spaces.
$150 x 4 = $600
Total rents per month = $20,600
Expenses:
The new mortgage would be $10,000 per month at a 6% interest rate.
Taxes would be around $2,000 per month.
Insurance would be $1,000 per month.
Common utilities could be $1,000 per month.
Total expense would be $14,000 if we continued to manage the property.
$20,600 - $14,000 = $6,600 cash flow per month.
