MOUILL POINT Investors 1 bed, R1 190 000 incl. tenant - R7 000 p/m.
Let's run those numbers:
| Down Payment | Monthly Cash Flow | ROI |
|---|---|---|
| 100000 | -4251 | -51 |
| 200000 | -3219 | -19 |
| 300000 | -2186 | -9 |
| 400000 | -1154 | -3 |
| 500000 | -122 | 0 |
| 600000 | 910 | 2 |
| 700000 | 1942 | 3 |
| 800000 | 2974 | 4 |
| 900000 | 4007 | 5 |
| 1000000 | 5039 | 6 |
| 1100000 | 6071 | 7 |
So to break even you'll need to put down a 50% deposit. And that rental is waay too high for a one bedroom. Two bedroom flats can easily be found for R6500 with one bedroom flats going for less than R4000/month.
1 comment:
Your email isn't working, so posting this here.
Check out www.fin24.co.za today - piece on developers bailing out in Joburg, and being left owning (and bleeding for) up to 50% of their unwanted babies.
Cool site.
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