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 over 4 years ago,
Is this a good deal? Help me analyze it please!
I'm looking to purchase my first duplex.
Remodeled single story duplex in established residential neighborhood. For sale by owner. No immediate capex or repairs needed. I would manage it myself.
Asking Price 475K
Each unit is 1250 sq. ft. 3bed/2bath with small backyard and garage
Remodeled kitchens and bathrooms. Tile and laminate flooring
Occupied by tenants who are paying 1800/month each and pay all utilities and take care of yard maintenance.
Landlord pays water/sewer which is 190/month
Im thinking of offering 450k with a 20% down payment in cash of around 90000-100000 and carrying a 30 year loan with a mortgage payment of around 2075/month (tax and insurance included).
It seems it would cash flow 1525 a month before accounting for maintenance, capex, and vacancy percentages.
Am I calculating this right? Any ideas?