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Updated about 4 years ago,

User Stats

281
Posts
128
Votes
Stephen Jones
  • Rental Property Investor
  • Illinois
128
Votes |
281
Posts

Is this a good deal?

Stephen Jones
  • Rental Property Investor
  • Illinois
Posted

Happy New Year to everyone!

I'm hoping to get some insight on whether this is a good deal or not? Any help, suggestions or feedback would be greatly appreciated. The breakdown on my potential deal is as follows..

12- 2 bedroom 1 bath units

washer/dryer hookups

1000 sq ft.

2 buildings total- each have 6 units a piece

Property was built in 2000 so fairly newer

Located on the outskirts of St. Louis in a decent community with a great school system. Total of 15,000 people in town.  

Purchase price -630,000$ - Paying 15% down

Rent Roll- 625$ per unit- 90,000$ yearly

Owner pays for Lawn Care and Trash only- 4200$ per year

Taxes- 13,500$ yearly

Insurance- 6000-7000$ yearly

Obviously would have to factor in a mortgage payment.

Windows, air conditioners, roofs all in great shape.

Any advice would be great! Thanks!

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