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Updated over 6 years ago,
Please help me analyze this deal!
Good Morning All,
Please help me analyze the following deal. Everything I see checks out in it but just wanted a double check by BP. This will be my first (intentional) rental, my other was my previous residence.
3bd, 2bath, 960sqft with detached garage $109k list on market 100+ days. Section 8 tenant placed with $15,948 cash flow.
Location: Surrounding Baltimore, MD area
Total Taxes: $1,728
Tax Year: 2016
Yr Assessed: 2017
Land: $42,000
Improvements: $60,900
Total Tax Assessment: $102,900
20% down: $21,800
Closing Costs ~ $6500
Total: $28,300
Monthly Numbers: Annual Numbers:
Income:$1,328.00. $15,936.00
Mortgage Pay:$481.52. $5,778.26
Vacancy (5%):$66.40. $796.80
Management Fee:$118.19. $1,418.30
Property Tax:$144.00. $1,728.00
Total Insurance:$66.67. $800.00
Maintenance Cost:$83.33. $1,000.00
Cash Flow: $351.22. $4,214.64
Net Operating Income:$838.65. $10,063.81
Does this seem right and like a decent deal?
Thank you all for your time!