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On-site Office:
(608) 692-6396
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Agent's Office:
Lee Real Estate
(608) 692-6396

For the purposes of this model we used The Cypress 1 Bedroom, 1 Bathroom

Renting:

Purchase Price:

$0

Down Payment:

$0

Mortgage Amount:

$0

Principal Paid:

$0

Interest Paid:

$0

Taxes Paid:

$0

Condo Fees Paid:

$0

Total Payment:

$950

Net Monthly Payment:

$950 Per Month

Owning:

Purchase Price (2 Bedroom):

$164,900
($5,000 Price Reduction)
($4,797 3% Incentive)
= $155,103

Down Payment:

$7,755

Mortgage Balance:

$147,348

Principal Paid:

$166

Interest Paid:

$657 *Tax Savings: $117

Taxes Deduction Saving:

($242 *Tax Deduction Savings, 21% Tax Bracket)

Condo Fees Paid:

$218

Insurance:

$20

Total Payment:

$1,320 *Total Tax Savings: $242

*3% Annual Appreciation:

.02 x 164,900 = $3,298 per year.

Monthly Appreciation:

$3,298 / 12 = $275 per month

Net Monthly Payment:

$1,320
*($242) Total Tax Savings
*($275) Monthly Appreciation
$803 Net Monthly Payment

*Tax savings base on 21% tax bracket.

*Appreciation is not guaranteed, 2% is a conservative average in Dane county for the past few years.

*Personal Mortgage Insurance (PMI) is a fair estimate

(These figures are merely one possible scenario and should not be construed as an exact result)