The tenants will pay for all utilities ignore income taxes


Felice bought a duplex apartment at a cost of $180000. Her mortgage payments on the property are $1400 per month. Her real estate taxes total $2196 per year, and insurance costs $936 per year. She estimates that she will spend $1488 each year per apartment for maintance, replacing appliances, and other costs. The tenants will pay for all utilities. Ignore income taxes, changes in equity value, and changes in property value. What monthly rent must she charge for each apartment to break even?

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Financial Management: The tenants will pay for all utilities ignore income taxes
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