beachbuys.com's

Income & Expense Worksheet for Beachfront

 

 AN EXAMPLE OF

INCOME AND EXPENSE - FIRST YEAR ESTIMATES

& POSSIBLE TAX SAVINGS ON A GULF FRONT CONDOMINIUM
 

Thomas S. O'Rorke

REALTOR®

Licensed Real Estate Broker

ALABAMA

FLORIDA

MISSISSIPPI

==============

KAISER REALTY, INC.

Gulf Shores, Alabama

==============

Toll Free • 877-854-8843

Direct Line • 251-981-1221

Cell • 251-942-7089

Fax • 251-955-3203

Email • Tom@BeachBuys.com

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WINDWARD POINTE
Interior Unit
3-Bed
2-Bath
Orange Beach
Example Only

Selling Price

Improvements

Land Value

Appliances & H&AC

Furnishings

-

$440,000

$380,000

$50,000

$10,000

$30,000

-

-

-

-

-

-

-

LOAN DATA
TYPE
RATE
TERM

-

-

-
Fixed Rate
6.0%
30 Years

-

-

-

-

-

-

-

-

Equity (downpayment)

20.0% or

$88,000

Loan Amt.

$352,000

-

Monthly Principal & Interest

-

-

-

$2,110.42

-

GROSS RENTAL INCOME
Estimated Annual Rental Income

-

-

-

$23,000

-

-

-

-

Tax Evaluation

Cash Flow Evaluation

Property Management Fee

-
24.5%

of G.I.

$5,635

$5,635

Housekeeping

-
2.5%

approx.

$460

$460

Contents Insurance (estimate)

-
$1,000

per annum

$1,000

$1,000

Association Fee

-
$475

per month

$5,700

$5,700

Utilities (estimate)

-
$90

per month

$1,080

$1,080

Interest

-

-

-

$21,120

-

Principal & Interest

-

-

-

-

$25,325

Property Tax

annual

(estimate)

$2,728

$2,728

-

-

-

-

-

-

TOTAL EXPENSES

-

-

-

$37,723

$41.928

(ESTIMATED OPERATING LOSS)

-

-

-

($14,723)

($18,928)

(TOTAL OUT-OF-POCKET COST)

-

-

-

-

($18,928)

CARRY DOWN OPERATING LOSS

-

-

-

$14,723

-

DEPRECIATION

(First Year)

-

-

-

-

Contents

$30,000
7 years
x 200%

$8,571

-

Building (Improvements)

$380,000
27.5 years

-

$13,818

-

Appliances & Heating & A/C

$10,000
5 years
x 200%

$4,000

-

TOTAL DEDUCTIONS

-

-

-

$41,113

-

TAX BENEFITS

38%
Bracket

-

$15,623

-

  
NOTE: This projection may not include all items of expense. It is also based on assumptions and estimates using past real estate trends in this area. Therefore, the reliability is depended upon future events and transactions. As real estate agents, we are only expressing an opinion on the fairness of the projection. The after tax cash requirements are probably less than the above before tax projections. We encourage you to seek competent tax advice. This illustration does not include any projection of appreciation. THE ABOVE IS MERELY A POSSIBLE TAX IMPLICATION. EACH INDIVIDUAL SITUATION VARIES. AGAIN, WE EMPHASIZE THE NEED FOR YOU TO SEEK PROFESSIONAL TAX ADVISE. THIS IS FOR ILLUSTRATION PURPOSES ONLY.

 

 

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