Rental Property Numbers 2022
We’ve now owned our rental for a little over four months. So, how much did it cost us out of
pocket in 2022? Let’s find out!
For posts about us Buying the Rental Property Click Here!
Gross Rental Income: $6,355
This is all the income related to the rental including cash-back rewards on the rental credit
card. Considering that this is just over the course of a little over three months and we only had
it rented towards the end of November, this isn’t too bad. Go team!!!
Rental Expenses: -$60,685
This includes everything from the 20% down payment to HOA dues and the cost of air filters for the home.
Total “Profit”: -$54,330
Yeah, we made bank all right. 😂 I fully expected a negative year. Rental properties are a long-term
investment. Not to mention, that this is still the first year so it’s gonna be a cash-heavy time. We’re trading a lump sum payment for, what will hopefully be, consistent monthly payments. Next year should be better.
Some Fun Extra Info:
We bought the rental for $287,000. Now, it is worth $297,000. We still have equity of
$10,000, which is a fair amount lower than what it used to be, but is still a positive number. So
yay!
And there you have it. All the numbers pertaining to the rental for 2022. We’ll see how we do in 2023. 😊
Do you have a rental? If not, would you consider having one?
Feature Photo by Monica Galentino on Unsplash