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Updated over 8 years ago,

User Stats

343
Posts
95
Votes
Chris Sukala
  • Rockford, IL
95
Votes |
343
Posts

Strange multi

Chris Sukala
  • Rockford, IL
Posted
So I found this strange deal. Haven't walked through yet just received info from realtor. So this multi unit is a 6 unit one 1 bed rents for 500, 1 bed rents for 550, 2 bed rents for 575, 2 bed rents for 610, 3 bed rents for 620. Missing one unit price. Not sure yet why the sporadic rent. Need to find out more. Then they have 250 a month allocated for one tenant to do some property maintenance snow, lawn and light repairs. Gross rent income 34260 without that sixth unit. He's claim on expenses is 2795 insurance, 5143 utilities (unsure of this), 2598 maintenance on top of the 3000 allocated for tenant subsidy approx 10800 for mortgage, 7990 taxes totally 32326.00 in expenses. Leaving me 1934 after expenses. However still missing a unit. If the unit is a 2 bed 600+ then leaves me approx 9134.00 if I did math correctly on the fly on break at work. A lot of things need to be answered and addressed but might be something. Weird how there are so many ranges of rent.

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