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Need HELP! Analyze this property - college rental market
Hi newbie here and looking for some input
I’m looking to purchase a SF
230k
5 bed 2 bath
Tenants will be college students
Rent expected - 3300
Year round lease
Cash flow 520
The CoC works out to be about 11% which is awesome
However the biggest variable is the property tax which is presently at 7500. My biggest worry is if it ever hits 10000, it will eat into my cash flow.The property won’t appreciate by much due to location
The deal looks great, what do you BPers think bout the property tax situation???