Dont Know if this is too good to be true!

[Jordy Enmanuel Corporan]

Hello Fellow members Glad to be here, So the back story is that im helping my parents find a property out of state to invest in. I will help with the down payment so i can get some profits possibly. 

So..I came across this one triplex today

And the numbers were just too good. I dont know if im missing something but the property has been on realtor for over 250+ days.

These are the numbers----

Purchase Price: 100k

Sq Ft: 1500

Property tax: 1800 per year

Insurance: 432 Per year

Total Gross Rent: 2,500 monthly 

Expected Repair Cost: 8,000

Expected Monthly expenses: 1,540

This is also assuming 20k downpayment for 30 year fix rate

Something that i noticed was that the tax assessment was 190k. Which is way over the price. I dont know if this is something to be concern about. This property is also located in Philadelphia, Pa.

I will be super glad if someone can point out something that i could be missing. Cause with the calculator i get over 30% cash on cahs return. 

[Yonah Weiss]

How familiar are you with Philly @Jordy Enmanuel Corporan?

Some neighborhoods are very rough, and come with problems like non-paying tenants, damage, evictions, which will totally eat all of your potential cash-flow.

Whatever you do, DON'T buy anything out of state without first visiting the property, and the neighborhood, there are way too many horror stories. Just some advice.

You should also get an inspection and appraisal, to find any potential necessary repairs, or problems.