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What monthly rent must she charge for each apartment

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Question - Felice bought a duplex apartment at a cost of $245,000. Her mortgage payments on the property are $1,040 per month, $564 of which can be deducted from her income taxes. Her real estate taxes total $1,632 per year, and insurance costs $1,476 per year. She estimates that she will spend $1,236 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: EM133176758

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