Advice on these numbers? First time investor long term rental

Member since 2024 · 16 posts · 2 votes

3 bdr 2 bath finished and remodeled home, 4,700 sq ft lot. Price $170,000

Rental income $1,750
Insurance $1500 /yr
Taxes $5000 /yr
No HOA

Would this be a good deal?
I do want to manage it myself eventually, but we will have a realtor to list it.

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
2y
What part of Houston? Houston is huge. If appreciation is limited then this deal is average not knowing more information. When you say remodeled, do you have to pay up to get it? When was it built?
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Jessica Uresti
OP
Member since 2024 · 16 posts · 2 votes
2y
Hi Jonathan,
The house was built in 1946 recently updated. I’m sure the value increased after it was remodeled. I would need to look up assessments on hcad.
The area is Fifth Ward near downtown Houston. I live close by.
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Jessica Uresti
OP
Member since 2024 · 16 posts · 2 votes
2y
Are interest rates just too high now to buy a rental property?
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Shakil AhmedPro Member
Member since 2020 · 25 posts · 7 votes
2y
Its super high, based on my assessments this year, its very difficult to get a positive cash flow property in most cases (some states may have it).
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