Is This a Good First investment Property?

[Cody Jensen]

Hey guys,

I've been working really hard to find a property that is worth  buying. 

I need you your help assuring me if this is a good or bad deal.

Asking price is right under $200k

Here is the number. Please tell me what you think.

$180k 

45,000 down

135,000 /30 years @5% ($725/month)

Taxes : 7700/yr ($642/month)

Insurance: $1,000 yr (est)

Public Sewer: Unknown at this time

Gross income fully rented $30,240

Breakdown: 

Unit 1: $750

Unit 2: $770

Unit 3: $1000

Current landlord says some utilities are included in current rents. (Gas, water and trash included).

I didnt take out for maintence or vacancy. 

Fully rented i will be looking at over $10k a year. Is that a good thing? 

It looks like a good starter but im just really confused.

What is your opinion? Am i in the RED? 

Thank you all

CJ