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Updated almost 7 years ago on . Most recent reply

User Stats

3
Posts
1
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Tim N winters
  • Evansville, IN
1
Votes |
3
Posts

looking for some guidance on a deal.

Tim N winters
  • Evansville, IN
Posted

i am looking at pair of quad plex units on the same property.

they are asking $330,000 for the pair

the first chart is off the sellers numbers

                                      MonthlyAnnual
Income:$4,500.00$54,000.00
Vacancy (10%):$450.00$5,400.00
Management Fee (9%):$405.00$4,860.00
Property Tax:$483.33$5,800.00
Total Insurance:$208.33$2,500.00
Maintenance Cost:$1,666.67$20,000.00
Other Cost:$375.00$4,500.00
Cash Flow:$911.67$10,940.00
Net Operating Income (NOI):$952.17$11,426.00

i adjusted the number and added mortgage payment

                                     MonthlyAnnual
Income:$4,500.00$54,000.00
Mortgage Pay:$1,409.16$16,909.88
Vacancy (10%):$450.00$5,400.00
Management Fee (10%):$450.00$5,400.00
Property Tax:$483.33$5,800.00
Total Insurance:$208.33$2,500.00
Maintenance Cost:$1,250.00$15,000.00
Other Cost:$416.67$5,000.00
Cash Flow:$-167.49$-2,009.88
Net Operating Income (NOI):$1,286.67$15,440.00

i over figured vacancy to cover one unit empty per month.

other cash flow covers trash and water

there are a total of 9 units. 

i know i am problem not giving you enough info

this would be my first investment property and i am a little gun shy of the deal

Most Popular Reply

User Stats

3
Posts
1
Votes
Tim N winters
  • Evansville, IN
1
Votes |
3
Posts
Tim N winters
  • Evansville, IN
Replied

on if sound like a decent deal.

its in a decent working class area. (guessing it would be B class)

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