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Updated over 4 years ago on . Most recent reply
Multi Family Home in Arizona
Hi everyone,
I am in the middle of running numbers for a few properties and I want to make sure I don’t get blindsided after the fact. So here are the numbers I have looked at so far. Also, any advice from anyone, I would greatly appreciate.
Units: 12
Build Year: 1950s
Offering Price: $900K
Cap Rate: 7.75%
Monthly Gross Income: $7100
Monthly Taxes: $600
Monthly Insurance: $200
Monthly Maintenance: $100/ unit (guess)
Is there anything I am not looking at? Is there something I should be focused on? There is upside potential in this place, and the rents are under market by about $200/ unit.
Thanks in advance everyone!
Most Popular Reply
Using the 2% rule looks overpriced. I would recommend using one of the calculators that biggerpockets have to offer. Remember the switch is off in the economy so there's really no set price on anything right now. Just my thoughts.