First property

Updated 11.03.2021

This is the first rental property in my real estate portfolio. It has 2 apartments, one is currently vacant while it’s being renovated.
My first rental property

Purchase

Property price: 139 470€

Down payment: 13 422€
Registration of property: 554€
Mortgage ownership transfer fee: 671€
Banking fees: 1 068€
Lawyer: 2 097€
Building expert: 268€

Total cash used to buy this property:  18 080€

Debt

Mortgage: 103 033€

Monthly cash flow

Rental income: 1 532€
Mortgage payment: 467€
Property tax: 32€
Property management fee: 23€

Estimated expenses (20% of rental income):
 306€

Result (when fully rented out): 704€

Investment value