Charge for each apartment to break even

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Reference no: EM131923721

Felice bought a duplex apartment at a cost of $225,000. Her mortgage payments on the property are $1,320 per month, $669 of which can be deducted from her income taxes. Her real estate taxes total $1,884 per year, and insurance costs $1,524 per year. She estimates that she will spend $1,320 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?

Reference no: EM131923721

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