I purchased this house in 2011 as our primary residence for $242,000. After an FHA loan with 3.5% down, we had a remaining principal of $233,530. It is located just a couple of miles south of the south gate of Marine Corps Base Quantico and is extremely convenient for all military members living there. Since we moved, we have not had a single vacancy and every tenant has been a member of the armed forces.
Financial Breakdown
PITI: 1508
PMI: 212**
Property Management: 125
Vacancy: 5% (105)
Maintenance: 10% (210)
Rent Collected: 2200
Cash Flow: 40
** PMI expires this October, so the 212 monthly insurance payment goes away and the cash flow increases to 252 per month**
MillionDollarMarine.com 