1st purchase in 2 years

[Anna Buffkin]

After 2 years on the sidelines, I am purchasing rental #4. I was originally looking for a SFH between $60-$120k, but came across a condo with good numbers.

The condo is a 2/2 that has been updated in the last 5 years.  Numbers are as follows:

Purchase: 30,000

Rent: $750

HOA: $193

Mortgage: $236

Estimated cash flow: $129/month

Tax and insurance estimated at $900/ year based on information from the owner and a similar property I own in the same county.

My mortgage is 30% down, 6.25% for 10 years.

The owner is 65 and pairing down.