Proforma			Disclaimer: 1. Refinancing is subject to appraisal of desired value 2. Taxes are no yet assessed 3. Condo fees not finalized
Purchase Price	$ 250,000
25% Down Payment	$ 62,500
First Mortgage	$ 187,500

@ 5.5 % for 35 years	$ 999.30	/month
Tax	$ 95.00
Condo Fees	$ 145.00
Total	$ 1239.30	/month		Current Rent: Vacant

A) Rent for 1400/month PCF 161 x 12 = 1932/year = 3.09 % Cash ROI Assuming 10% appreciation $29,000 ROI is: 1932 + 29,000 = 30,932/62,500 = 49% ROI.		B) Refinance at 290,000 Gets $30,000 cash back (leaving $32,500 in the property) NEW mortgage 217,000 New payment 1,156.52/month Property Tax 95.00/month Condo Fees 145.00/month Total 1,396.52/month = 3.48/month PCF x 12 = 41.76 PLUS Appreciation (10%) 29,000 29,041.76/$32,500 = 89.3% ROI!!!