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Updated over 7 years ago,
Would YOU consider this a good deal on a Buy and Hold property??
Need help investors that buy and hold properties. Would you consider this a good deal?
List Price- $750,000
2 Units- Each 3 bedroom 1 bathroom with 5 parking spaces
Potential Rental Income: $90,000
Less Vacancy Rate: 0%
Effective Rental Income: $90,000 Gross Operating Income: $90,000 Property Taxes: $1,911.19 Building Insurance: $1,200 Utilities: $3,600 Total Operating Expense: $6,711.19 Net Operating Income: $83,288.81 Cap Rate: 11.11 Gross Rent Mult.: 8.33To me, it looks like a great deal with net operating income being $83,288.81. But I am new and still learning on what to look for to make it a good deal. Or am I WAY off??