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Updated almost 8 years ago,

User Stats

126
Posts
18
Votes
Bill E.
  • Pittsburgh, PA
18
Votes |
126
Posts

is this a good first deal?

Bill E.
  • Pittsburgh, PA
Posted

Having trouble finding a small multi in the area I want to live. Been looking at this one and here are the numbers. Keep in mind this will be my first property, so I'm looking at this as an opportunity to learn and create systems. 
Duplex top 1 bed 1 bath, bottom 2 bed one bath. New roof newer furnaces and electrical.
Purchase price 107000
Estimated rents total 1425 
Taxes: 2800
Insurance: 80 per month
Water/sewage estimate: 200 per month
Garbage estimate: 20 per month
Pmi:73
Gas/electric paid by tenants.
Vacancy 5 percent:71.25
Maintenance 5 percent:71.25
Cap ex 8 percent:114
Cash flow:$84 
The rents are estimated because it was used as an in-law suite. I will be using FHA loan 3.5 down and seller paying closing costs. Property is located 10 miles east of Pittsburgh Pennsylvania.

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