Real Estate Math
A Delaware investor buys a rental property for $350,000 and puts 25% down. The monthly mortgage payment (P&I) is $1,495. The property generates $2,200/month rent. Monthly operating expenses are $600. What is the monthly cash flow after mortgage?
A$105✓ Correct
B$505
C$305
D$205
Explanation
Monthly cash flow = Rent − Operating Expenses − Mortgage Payment = $2,200 − $600 − $1,495 = $105. To solve this, multiply the relevant values: $350,000 and $1,495 at 25%..
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