Roofstock Rental Property in Savannah GA

[Samarth Shah]

Hi there,

I am in the process to buy my first Real Estate Rental Investment Property in Savannah, GA through Roofstock and can't belive I am finally posting on Bigger Pockets. I was waiting to find the property that runs my number and potentially generating cash flow for me which I think I found it but again I am a newbie so was looking for some insight and guidance that can help me to ensure I am considering all the factors. Below , is the details of the property and numbers I am looking for.

Property Type - Single Family House , 3 bed 1 bath (800 sq feet) Built in 1960 close to Savannah downtown.

Sale Price - $62000 (Zillow estimate is $54k, but again based on appraisal I shall negotiate if it comes under the sale price

Neighborhood - Class C (According to Roofstock rating). The zipcode 31405 overall rating on niche.com is B-.

Rental - $950/mo (currently rented)

Down payment - 25% and Interest rate is %5.5 , Excluding (P&I, Taxes, Home Insurance, Vacancy Factor, Property Manager Fees, Reserve Repairs ) I see $180-$200 Cash Flow Income .

Based on the inspection report there are some immediate repairs ($1200) , the seller is replacing HVAC and the roof is 10 years old . (Seller rehabbed the place and he bought in foreclosure . The seller company is HomeVestor which is essentially Real Estate Company.

I live in Atlanta , GA and I have some insight on Savannah Market but , again this is my first time experience and wanted to make sure I am not being just excited but also trying to be careful. Appreciate all the comments and feedback in advance!