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Updated about 5 years ago,
First Rental Property Philadelphia
Hello BP community! I am trying to figure out if this rental property is a good first investment, and I am having trouble making a decision if it’s worth it or not. Any input would be greatly appreciated.
Duplex Purchase price $161K (As is)
Down payment would be 15% $25,150.
Closing costs $12K
Repairs would be around $7K
Total invested= $43,150
Estimated mortgage would be $922 per month.
Each door rented for $700 a month previously.
If I'm correct my ROI would be around 13%
Does this seem right?
Thank you!