Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

71
Posts
29
Votes
Han Oh
  • Laguna Niguel, CA
29
Votes |
71
Posts

Questions on acquiring turn key rental in the Dayton, OH area

Han Oh
  • Laguna Niguel, CA
Posted

I became suddenly interested in acquiring a turn-key rental property in the Dayton, OH area after coming across a seemingly attractive offer (at least to me). I should disclose that I have not been looking into any rentals until now since I was rather focused on finding deals to wholesale or flip locally in Southern California. Also I am not familiar at all with Dayton, OH or its suburbs. But I figured that I could use the cash flow generated from the rental to continue financing my marketing to alleviate the burden on our finances. 

The property is a 1600+ sq.ft., 2 unit, 2bd/1ba each, located in the Trotwood area of zip code 45417. It has been recently renovated by the owner. I looked at several pictures and they all looked pretty good. Tenants are already in place in both units and the combined gross rent income is $1300/mo. Taxes, insurance, PM and part of the utilities total approx. $340/mo. So, monthly cash flow would be about $960. I'm thinking I should side aside about $300 for maintenance & reserves, and vacancy and collection loss. So that puts it at $660 net monthly cash flow after everything that I can think of is deducted.

The property is being offered to me for $44000. I've asked and gotten answers to several questions that I had regarding the property, tenants and the area. My main question is, given the monthly gross rent income and the purchase price, is this a good deal? I know the answer may depend on a lot of factors such as vacancy rate, safety of the neighborhood, tenant background and credit, etc, etc, but assuming that all of that is satisfactory, is this a deal that I should take?

Thanks all for the help!

Loading replies...