Analyse my first house hack!

[Skyler Harrington]

Hello,

I am in the process of purchasing my first home and just got my offer accepted! It is a 3bed 3bath in Mesa AZ very close to Tempe & Chandler. I will be house hacking and also turning one large room into 2 for additional cashflow.

I am not a paid member yet so I cant share but here is the results from the BP calculator:

$306,500 purchase price

3.625% interest rate

4.4% down payment 

$2000 repairs (wall for 2nd room)

$316,500 ARV

.68% (2% rule)

 $2150 income 

$1947 expenses

$202 cashflow

5.8% Pro forma cap

$18,362 NOI

$23,825 cash needed

5.99% purchase cap rate

I am expected to move in 1-2 years with my job. I expect to get about $3000 monthly rental income renting each room individually at that time. I live in a higher priced area than what i often hear on the BP pod casts and the numbers don't exactly impress me but as long as I can break even after all expenses I will be able to save compared to renting as I currently am. I would love any and all feedback, especially anyone with experience in the Phoenix markets!

Thank you!