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Updated almost 10 years ago,

User Stats

688
Posts
607
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Devan Mcclish
  • Investor
  • Nashville, TN
607
Votes |
688
Posts

Is this a good deal?

Devan Mcclish
  • Investor
  • Nashville, TN
Posted

This is my first multifamily deal, so any advice on the numbers would be much appreciated!

Purchase price: 60k 

Financing: conventional loan 20% down, 48k being financed over 15 year am at 5% interest = 379.58 a month 

rent is $400 a unit, 3 units = $1200 a month = $14,400 a year

expenses: $7,800

Property management: 10% of gross rent

Vacancy: 10%

all utilities will be paid by the tenants. 

Property does not need hardly any work. Brand new roof, water heater, floors have been redone, new appliances in each unit, and it has been painted. I have still included 5k in repairs to be conservative.

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