Seeking Guidance on First Rental Property

[Kirby Baxter]

Hey Everyone- Thank you in advance for any help/feedback/guidance you can provide. I am looking into purchasing a rental property in the college town where I currently live. (my first rental property) The property I am looking at is 2 blocks from one of the colleges has been completely rehabbed according to the listing (I have an appointment set up to go see it this week.) It currently has a renter in a contract for $1,300.00 a month until the end of the year. The asking price is $110,000. I would be using a DSCR loan with 25% down. It has been on the market for a little over 40 days. Would you consider this a good deal to pursue? If so, what type of advice can you provide?

Thank you-Kirby

[Kirby Baxter]

@Kyle Momany
Hey Kyle thank you for the response. It does not have any HOA costs. As for the tax cost before it was rehabbed it shows that it was about 400 a year. I am not sure if that is the average rent or not. The information I could find makes me feel that it is a little higher than the average, but I am assuming (not a good thing to do) that it is because the house has been updated. Yes, it would most likely be rented out by college students. I have asked my agent find out more details on the tax cost and current insurance cost. Are their other questions I should ask? or any other thoughts?