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Updated about 3 years ago,
Multifamily 12unit Deal or No Deal
Looking at a small multifamily property in a small town and would like some help in evaluating the numbers for this property.
$800K for 12 units. Taxes are $14k. Insurance $4000 (estimate??). Expense calculated at 10%/unit per month. Proforma says 10% Cap rate. Looking to put 10% down and getting financing for 90% (80% conventional and 10%private/hard). Steady tenant occupancy. Recently remodeled so not much room for upgrades. Rent ave $725. It appears to cash flow at these numbers but feel like I'm missing something. Please give some insight. Thanks.