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Updated over 7 years ago on . Most recent reply

Account Closed
  • Chicago, IL
0
Votes |
14
Posts

Good deal or too small?

Account Closed
  • Chicago, IL
Posted

Condo in belmont cragin. Investor owned 50%. $105k with 10% down $10,500 and owner financing 5% 25 years.

$505 mortgage + $70 taxes + $200 assessments (includes heat) = $775 total and rents for $1100 so cash flow $325 monthly+$200 in amortization. Special assessments here and there may add $100 a month? and occasional vacancy its a 40 unit low rise. Has ac window units and no mechanical in the unit to brake. 

Granite countertops and some new drywall/paint. Flooring is old and cracked. 

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