Rental Calculator and Total profit if Sold
So I'm working on using the rental property calculator for the first time. In my theoretical world, I'd pay cash for this rental property and assumed that the county assessor would assess the property value below the expenses I may have to fork into it.
In the analysis over time, it calculates out the total profit if sold over 30 years but I'm having trouble arriving at these numbers myself. Can someone walk me through what I'm doing work?
I've read elsewhere on this forum that the total profit sold = (After Repairs Value - (1-Sales Expense Percentage)) - Total Cash Needed - Loan Balance + Cash Flow.
In my theoretical scenario, the formula would look as follows: ($176,750- (1-8%)) - $180500 - $0 + $14004 = $-3,886. Which is correct but my trouble is what happens when you drag that out over time. For instance the second year would be: (178,517.50-(1-8%)) -$180,500 -$0 + $14144= $-2119.9 if I follow the same formula as up above. However, the calculator shows that the total profit if sold for year 2 = $11884.14.