An anonymous user on this post sent us a link to this listing for a 2 bedroomed apartment in Mutual Heights on the market for R 1 395 000. Rates and levies are R2 520/month, transfer costs are approximately R50 000.
And it’s tenanted at R4 000/month. Till April 2012. Which means after expenses (but excluding maintenance) you’ll be making R1 480/month. As the submitter said “I feel like I am taking crazy pills!”. The difference between the rental and the bond is R11 00/month.
Do you even need to see the cashflow yield graph?
Down Payment Monthly Payment Cash Flow Annual Income ROI Cap. Appr. Required R0 R12551.18 R-11071.18 R-132854.13 9.52% R139500 R11296.06 R-9816.06 R-117792.71 -84.44% 8.44% R279000 R10040.94 R-8560.94 R-102731.30 -36.82% 7.36% R418500 R8785.82 R-7305.82 R-87669.89 -20.95% 6.28% R558000 R7530.71 R-6050.71 R-72608.48 -13.01% 5.20% R697500 R6275.59 R-4795.59 R-57547.06 -8.25% 4.13% R837000 R5020.47 R-3540.47 R-42485.65 -5.08% 3.05% R976500 R3765.35 R-2285.35 R-27424.24 -2.81% 1.97% R1116000 R2510.24 R-1030.24 R-12362.83 -1.11% 0.89% R1255500 R1255.12 R224.88 R2698.59 0.21% -0.19% R1395000 R-0.00 R1480.00 R17760.00 1.27% -1.27%
Original Post on Cape Town Property Bubble: Rent Vs Buy – Mututal Heights: R1 500 rent on a R1.4m apartment. Crazy pills!
