is this worth buying?

[Ravi S.]

Hello Friends,

I an new so I request you all to please help and guide.

1 bedroom 1 full bath 1 half bathroom Condo

Listing price 68,000
likely to accept offer of 65,000
+ need to pay 17,000 assessments ( whole building concrete, carport, railings are being changed and upgraded )

+ rehab needs 10,000 ( appliances, rehab half bath, change vanities in main bathroom, paint cabinets in kitchen, regrout, electrical )

total 92,000

can be rented out for 1300 x 12 = 15,600

monthly HOA 608 x 12 = 7,296

annual taxes expected: 900

net income: 7404

Percent Return on Investment: 8%

is this good ?

given that market is at peak

is this good to invest at these numbers?

I an new so I request you all to please help and guide.

thank you very much,

Ravi

[Andrew Zannotti]

@Ravi Santwani honestly I think you found a better deal somewhere else, out of your NOI you still need the factor the mortgage if you have one, vacancy rate, maintenance & CAPEX (even when you don't rehab you should start sitting it to the side). I would imagine after factoring for those you're probably not gonna cash flow at all.