Multi-Family rent price$$

[Emma Redfern]

Closing on a multi family unit in Aurora, IN

Asking price:129,000 Close:119,000

Unit 1: 2 bd 2 bath. Unit 2: 1bd 1bath. Unit 3: 2 bd 2bath the 2 units currently pay $500 and the other pays $400 

I plan to renovate floors cabinets paint etc in every unit. my expected total for renovations (I am doing myself) will be $5500 I also accounted for exterior fixes on the outside 

The current rent is below average for the area, I want to charge $750 for unit 1, $800 for unit 3 (it’s bigger) and $650 for unit 2. 

Does this seem like a reasonable amount to start charging the current tenants? 

[Sean O'Keefe]

@Emma Redfern remember to consider bonus depreciation and the De Minimus Safe Harbor Rule for renovation expenses.