D O C U M E N T 2 4 6 M A Y 1 9 2 4 2 4 3
House Purchase Issue. Einstein.
Selling price 200,000 (62 Hutten St.)
insured (excluding plot, hence) 215,000 francs; first-class location
5 apartments, good modern construction.
Mortgages
state Zurich 90,000 interest 4,500
builder Geisberger
[9]
45,000 2,600
down payment 45,000 3,900
180,000 11,000. interest
(own capital calculated at 6%)
Seller
fixed for 5 years 15,000
mortgages 195,000
(best price)
Rental income
top floor 2,100
III 4,000
II 4,000
I 3,000
ground [fl] 1,400
14,500
–11,000
gain 3,500 frs
therefore free apartment
In addition, though, repair costs, water rate, risk of loss (which, however, is not
large in this very good location and with that insurance)
(214,000 francs fire insured)
Postscript
Through subsequent research I heard that the price might perhaps be reduced to
190,000 francs (fire insurance 214,000, therefore without construction site).
If either the entire sum were paid through the mortgages
(90,000 francs
45,000
135,000 –60,000 francs
would be paid out, that is, 55,000 francs then, or 45,000 francs immediately and
10–12,000 francs in 1–2 years.