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Updated about 9 years ago on . Most recent reply

User Stats

27
Posts
2
Votes
Jonathan Nolan
  • Carmel, IN
2
Votes |
27
Posts

Buy and Rent Opinion Needed

Jonathan Nolan
  • Carmel, IN
Posted

Hey all, I am new to this forum and this is my 1st post looking for an opinion on the numbers. In fact, the realtor that showed me this duplex told me to post the numbers here and get everyone's thoughts on whether this is a good deal or not (would be my first one!)

So, here goes:

Purchase Price: $79, 900 (hoping to get down to $70K) 

Both units are rented at $550/mth. Walk through with realtor went good, nothing I could see needed rehabbed. Go with my contractor tomorrow for a more detailed walk through.

$13,200 Rent ($1,100/month)
$1,069 Insurance ($90/month)
$893 Taxes ($77/month)
$1,122 Management (under current management) ($99/month)
$924 Maintenance ($77/month)

$924 Vacancy ($77/month)

$1,980 CapEx ($165/month)

This comes out to a 2% rule of 1.53%

I am grateful for any advice on this. 

Thank you!

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