My First Deal is it any good?

[Alex K.]

Hello everyone, 

The property itself is in San Antonio  TX in a lower income neighborhood. Seems like the average income for the area varies from 35-40K a year. 

Agents says she can't find any comps. So, I have no idea what this is worth.

Much appreciated feedback in advance.

I would like some feedback on my potential first deal . The offer was 239K and it was accepted today. 

Offer : 239K

Down Payment: 47800 20 percent 

Closing costs : 5000

Monthly Mortgage : 1013.00 per month 

Property Taxes : 3446 per year / 12 = 288.00 per month 

Current Landlord pays for water : 275 .00 a month

Property already rehab no forseen major cap ex within the 4 to 5 year mark. 

Income : Rents Breakdown ( Leases were sent to me by the agent ) 

Leases Valid Until Dec 2019.

3/2  - 1150

2/2  - 950 

2/1 - 825 

Total rents : 2925 per month 

Is this a good deal potentially. 

It is in san antonio and I need some advice. 

Thank you everyone. All feedback is welcome.