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Updated almost 8 years ago,
How to Narrow the Options?
I'm looking to purchase a 2-4 unit property in NE Ohio (Akron/Cuyahoga Falls). I'm looking via Zillow/Realtor, but I'm finding multiple properties that look "good". They all meet ~1.5%, good cash on cash, ~$150+/door cash flow. How do you further narrow it down and make the right choice? I currently live in the area but I'm moving in 8 weeks, so I'd like to pull the trigger before then.
(My assumptions when analyzing properties are:
Debt Service: 25% down, 5% loan for 30 years
Vacancy: 8%
Property taxes: county assessor's site
Property Insurance: 0.3% of purchase price per year
Property Management: 10% of rent
CapEx: 5% of rent
Regular Maintenance: 1% of purchase price per year)
Thank you!