Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

This well-maintained income-generating Triplex with Strong ROI, located just off Market Street on the cul-de-sac of Eleuthera Close, is a prime investment opportunity. Secured by a boundary wall and entrance gate, the property offers well water, mature trees, and ample parking"'enhancing its desirability for tenants.

With four rental units already generating steady income, this property delivers an attractive return on investment:

1-Bed, 1-Bath: $650/month
1-Bed, 1-Bath: $600/month
2-Bed, 1-Bath: $800/month
3-Bed, 2-Bath (Main House): $1,500/month

Total monthly rental income: $3,550
Annual rental income: $42,600

At just $272,000, this property offers an impressive 15.7% gross annual return, making it an ideal option for investors or homeowners looking to generate passive income while building equity.

Don't miss this opportunity"'schedule a viewing today!