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Updated over 6 years ago on . Most recent reply

User Stats

7
Posts
2
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Arlind Mucaj
  • Newington, CT
2
Votes |
7
Posts

Buying first duplex - looking at numbers help

Arlind Mucaj
  • Newington, CT
Posted

Hi BP Community, 

I am buying my first duplex and am working through the numbers. Here is some information on the duplex:

Basic Info: 1941, 3B 1.5Bath, 2 BD 1 Bath

Purchase Price: 151K

DP: 44K 

Rents: 22K Annual

Mortgage/Taxes/Insurance: 13.5K Annaul

Maintenance/Other Costs: 2.5K 

Cash Flow: $5K/year 

The house is in need of some renovations: pretty much all new windows, a furnace replaced, siding in the near future (wood)  

Is this worth it for a first year investment? How much on average should I be looking at for cash flow per bedroom? I honestly dont see much appreciation on this house after fixing it up. Current market values after fixes is $180K. 

Appreciate any guidance and feedback.

Ari

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