Great Waikiki 1 Bedroom 1 Bathroom with 1 Covered Parking!
June 24th, 2008 categories: Honolulu Condominiums
Fairway Villa is centrally located in Waikiki. It is a building that is in the process of upgrading its common areas, is well managed and has a very bright future. This 1 bedroom 1 bathroom unit is priced at $300,000 and is being sold furnished (including a flat screen television). Enjoy washing your clothes in the stacked Bosch washer/dryer. Including the large open and very usable lanai the unit has a total are of 706 square feet. A tenant has just moved out, so it is ready for you to move in now! The unit was last rented for $1695 and, given the shifting market, we are projecting a rent of $1,595. The following is a brief analysis of a possible investment scenario based on a rental rate of $1,595 per month.
Monthly Expenses
Maintenance fee $466.35
Property Taxes $100 (estimated)
General Excise Tax $75.28
Total $641.63
Monthly Rent $1,595
Less Expenses $641.63
Net Income Before Mortgage Payments $953.37
COPY FAIRWAY VILLA COMPARABLE SALES.
An investor mortgage payment of $953.37 at 6.5%, amortized over 30 years will carry a mortgage of $150,800.
Based on a down payment of $149,200, this apartment is very close to a break-even cash flow.
Call me at 808-737-2093 or toll free at 877-737-2093 to see if this might meet your investment needs.
Note-please don’t rely on this information to make your investment decision. Make sure that you confirm the validity of the numbers contained in this analysis.
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