Highway 65 Storage Condominium Own vs. Rent
Personal Storage Ownership brings renting storage a past thought. Own your space
and capitalize on the benefits of ownership. Be a part of a Garage Club community
that provides great amenities and services located in the convenience of your city.
Rental:
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Year 11
Year 12
Year 13
Year 14
Year 15
Monthly
$900
$963
$1,030
$1,103
$1,180
$1,262
$1,351
$1,445
$1,546
$1,655
$1,770
$1,894
$2,027
$2,169
$2,321
Annual
$10,800
$11,556
$12,365
$13,230
$14,157
$15,148
$16,208
$17,342
$18,556
$19,855
$21,245
$22,732
$24,324
$26,026
$27,848
Ownership
Loan Payments
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
$973
Taxes
Insurance
HOA
$195
$201
$207
$213
$220
$227
$234
$241
$249
$257
$265
$274
$282
$292
$301
Monthly
$1,168
$1,174
$1,180
$1,186
$1,193
$1,200
$1,207
$1,214
$1,222
$1,230
$1,238
$1,247
$1,255
$1,265
$1,274
Annual
$14,020
$14,092
$14,164
$14,236
$14,320
$14,404
$14,488
$14,572
$14,668
$14,764
$14,860
$14,968
$15,064
$15,184
$15,292
Total Payment: $271,393
No Equity
You Own With
No Debt
Projected Equity: $291,050
Assumptions:
Unit Size
wide
20
deep
50
Total Sq Ft
1000
Rental Unit:
Rent per SF
$0.90
Annual Increases
7.00%
Owned Unit:
Cost Per Foot
Purchase Price
Down Payment
Amount Financed
Loan to Purchase Price
Years Amortized
Interest Rate
$140.00
$140,000
$35,000
$105,000
75%
15
7.50%
25.00%
HOA Dues
Property Taxes
Insurance
Property Appreciation
$50.00
1.1%
$300.00
5.00%
2.00%
5.00%
5.00%
Please Note: This analysis does not consider using the UNIT for business purposes.
There is no consideration given for interest deduction or depreciation.