Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 on . Most recent reply

User Stats

36
Posts
17
Votes
Dan Crenshaw
  • Brick, NJ
17
Votes |
36
Posts

Help with Analysis on a Multifamily Property

Dan Crenshaw
  • Brick, NJ
Posted

Im about to make an offer on my first MFH.  I don't know if it's necessarily a grand slam, but I wanted a few other opinions. I found a 3 family property, fully rented with long term tenants. 2 - 1br units and 1 - 2br unit.  1br rents for 800 and the 2br rents for 1050, making gross total rent 2650. 

The property is in pretty decent condition, I figure 5k for repairs, all cosmetic. 

3800 a year in property taxes, 

1200 a year in Homeowners Ins. 

1300 for flood ins.  

ARV is approx 190k-200k

Asking price is 185k. Seller is somewhat motivated.

I'll be getting a conventional 15yr loan with 25% down

Any advice would be greatly appreciated. Im open to any and all opinions/constructive criticism. 

Loading replies...