Help Me Analyze This Condo

[Joseph Platyan]

I am looking at a two story two bedroom condo that is listed at 75K with $1750/year taxes and a $340 condo fee. Condo fee sounds high but it covers heat, exterior maintenance, common area, trash, sewer, etc. The unit is in good condition just needs paint and new carpet for the most part. Seems like the other units are selling at 85-95k for similar square feet and unit type in that complex. I have a RE license so I was able to see these units rent for $1000-$1200/month recently. I would consIder thIs a C+ neIghborhood of delaware county PA Running the numbers cash flow is goIng to be around $200/month beIng somewhat conservative. ThIs would be my fIrst rental

[David Hildebrandt]

If $200 per month meets your criteria then go for it. I have to think with a little patience you can find a similar single family rental that might pull the top end of that rent range and would eliminate the $340 HOA fee.