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Updated almost 10 years ago on . Most recent reply

Michael Barbari's profile image
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Michael Barbari
  • Banker
  • from Downers Grove, IL
  • Member since Oct 1, 2014
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Michael Barbari's profile image
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Michael Barbari
  • Banker
  • from Downers Grove, IL
  • Member since Oct 1, 2014
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Michael Barbari
  • Banker
  • Downers Grove, IL
107
Votes |
396
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Buying & Selling Real Estate

IS THIS A GOOD DEAL?

Michael Barbari
  • Banker
  • Downers Grove, IL
Posted

Price is 160k for a triplex fully leased with coin op laundry. Tenants pay electric and gas

Unit 1 - 2 bed 1 bath rent = $850

Unit 2 - 2 bed 1 bath rent = $725

Unit 3 - 1 bed 1 bath rent = $550

===================  $2125

Taxes are 7k

Your advice is greatly apprecaited. Thanks.

 Mike

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    Wendell De Guzman
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    • from Chicago, IL
    • Member since Jun 6, 2013
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    Wendell De Guzman
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    Wendell De Guzman
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    Wendell De Guzman
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    • Chicago, IL
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    This is a terrible deal. See below. You have to factor in management, reserves, maintenance/repairs. I assume $25/month per unit for water - and that could be on the low end. If this deal is presented to me...even if it's a nice area, I will not buy it.

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