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Updated over 6 years ago,
Buying first duplex - looking at numbers help
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