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Updated almost 5 years ago,
Need advices - first time buying 2 New townhomes in Fulshear, TX
I’m a newbie investor here -
Recently found 2 townhomes in Fulshear, TX - next to katy - selling $426000 total. Both townhomes are still under contructions ready early next year - it’s a 3 bedrooms - do any investors here think that it’s a good rental properties? A good investment?
this is the numbers:
$426000- price total
20% down- $85200
My mortgage rate - 5% - $357840
$996 - principal & interest
3.45% property tax rate - $1207/ mo
$113 + $95 each house's HOA + access to community fitness center
Total : $2617/mo out of pocket
Expected rents $2000/mo each house
8% vacancy rate - $3667/ mo income
2 years warranty for plumbing/ ac/ heater
Cash on cash return - 14.7% before the repairs cost portion
Thanks in advance for any input !