Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

12
Posts
0
Votes
Frank Scala
  • Real Estate Investor
  • Farmingdale, NY
0
Votes |
12
Posts

Good first deal or not?

Frank Scala
  • Real Estate Investor
  • Farmingdale, NY
Posted

I think I have found the first property I'm going to pull the trigger on but was hoping the Bigger Pockets community could give me some feedback if it looks good. Here are the details on what I calculated:

Purchase Price: $100,000
Units: 4
Fully rented & tenants pay all utilities.

Unit 1 Rent: $575
Unit 2 Rent: $540
Unit 3 Rent: $525
Unit 4 Rent: $575
Gross Income: $2,215/m or $26,580/yr

Taxes: $271.53/m or $3258.31/yr
Insurance: $75/m or $900/yr
Trash: $59.33/m or $712/yr
Property Mgmt (10%): $221.50/m or $2,658/yr
Maintenance (10%): $221.50/m or $2,658/yr
Vacancy Rate (10%): $221.50/m or $2,658/yr
Total Expenses: $1,070.36/m or $12,844.32
Net Operating Income: $1,144.64/m or $13,735.68

Mortgage Payment on $80,000 for 30 yrs at 5%: $429.46/m
Cash Flow: $715.18/m or $8,582.16/yr

Return On Investment: 8.58%
Capitalization Rate: 13.74%


Any tips, advice or thoughts would be appreciated. Thanks!

Loading replies...