Help me run this house hack.

[Allen Nida]

Hi there!

I’ve never posted on the BP forums as I’m just starting out as a potential investor. Below is a real world property for sale, this very moment. Properties with these numbers are common for my area. This specific property was built in 1990, so I’m assuming low Cap ex.

Duplex Price: $255,000

Taxes: $3,155 (before HOE)

Down payment: 3% ($7650)

Insurance: $800

PMI: .5%

total monthly payment: $1595

Tenant rent: $975

Roommate rent: $550

Total income: $1525

Total “income”= -$70/month

Do these numbers even begin to make sense? It seems this doesn’t even come close to passing the 1% test. This doesn’t even include the utilities for my side nor the income tax on the income from my tenant. Does house hacking at a loss make sense? I would get a roof over my head for $70/month (after other expenses). What kind of numbers would I need for this to be a valid investment in the long run?

Best,

Allen