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Updated over 5 years ago,
Evaluating a property
Hello,
Thanks for reading my post. I'm new to investing in real estate but I'm hoping you guys can run these numbers and tell me what you think.
I'm contemplating buying a "luxury" duplex built in 2018. The purchase price is $875,000 with $19,000 in annual property taxes. The insurance is 3,100/yr. The mortage rate would be 4.5%. Both sides are rented and going for $3,250 EACH and both tenants have already agreed to pay $3,500/mo each next year.
Being that it's new construction and bringing in $7,000/mo next year with a mortage that I have at $5,400/mo do you guys think that's a good deal? What are you seeing as the cash flow after capex,prop man etc.? Thanks again for your help!!
Jason