Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property are $1.420 per month, $648 of which can be deducted from her income taxes. Her real estate taxes total $1,740 per year, and insurance costs $1,044 per year. She estimates that she will spend $1,092 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What monthly rent must she charge for each apartment to break even? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Ignore any tax effects. Rent per apartment to break even
Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property are $1.420 per month, $648 of which can be deducted from her income taxes. Her real estate taxes total $1,740 per year, and insurance costs $1,044 per year. She estimates that she will spend $1,092 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What monthly rent must she charge for each apartment to break even? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Ignore any tax effects. Rent per apartment to break even
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 46P
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