Sell or Rent or Section 8

[Marc Possoff]

I have a property located in the 19146 area code Grays Ferry. It might be important to note that Grays Ferry and Point Breeze are the same zip code. Don’t know if that will be important with rental income. 

Completely renovated, 2 bedroom 1 bath, about 850 sq ft. Unfinished basement. Basement is low not enough for living space. Can dig out. 

Income: Non section 8 looks to be $1500 a month. Section 8 is $2013. 

Expenses:

Taxes $1500

Mortgage( $65k renovation) $7800

Vacancy 5%

Repairs 5%

Capex 5%

Property management 10%

Utilities $0 tenant pays 

Total expenses @ $1500 month rental $13,800

Total expenses @ $2013 month rental $15,339

There is $0 down payment, $0 closing costs, $0 repairs rehab(that’s in the mortgage). 

Need some help figuring this out. Thanks!