General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
Hey group, thanks in advance for looking at this for me. I am hell bent on buying an investment property this year. This property is about 20 minutes away from my home and in a suburb where I own a large(ish) business. The ASKING price is $285K. (I'd put 20% down.) There is a recent inspection which looked pretty decent...minimal repairs needed. The rent is $650/unit (triplex) and under market. FMV is $750 to $825/unit. They are month to month. Rent hasn't not been increased in years. There is about $3000 in expenses per year (maintenance = $217, pest $450, gas $185, water $1270, and garbage = $1700). There is about $31/month of income from laundry. The triplex was built in 1997 and has original HVAC and roofing, but has been maintained (with records) yearly. All units are occupied. Clearly with the aforementioned numbers, it doesn't pencil out. Advice? Offer price suggested? I'd be thrilled to hear anything you all have to contribute.