Water Budget and My Numbers

[Corey Gregg]

Hello!  I am looking to buy a duplex in New Orleans--ideally I can house hack for about a year then move out and it will be a cash-flowing rental property.  My problem is that I don't know what to estimate for water expenses, and this variance can turn a potential cash-flow positive property into a cash-flow negative property.

I have rented in the city for years, but only recently did I have to start paying for my own water.  The first bill was shocking to me (about $300 per month and billed after 4 months in the apartment, which is a 2bd/2br).  I have appealed this with NOSWB and they are evaluating it.

2 questions:
1) What is an expected water bill for a 2/2 apartment in a duplex, triplex, or fourplex?
2) Is it common to find multifamily properties with split water meters, so that the tenant pays for water?  If so, this would make my math much easier.

Thank you everyone.

[Mike Wood]

@Corey Gregg  A duplex should not cost $200/month.  I have several 2/1 duplexes with only one meter (so I have to pay water/sewage/trash) and I pay around $135-150/month for the property.  In New Orleans, most older duplexes have one (1) meter, so you will need to pay the bill as the owner. If your lucky enough to find a property with multiple meters, the bill should be around $80/month per unit.

You can add another meter, but it is not free. There is a water meter connection fee, which runs between $2200-2500.  Then your plumber will need to separate the water service, which may or may not be easy.  I added a second meter to a duplex that I did a complete repipe, and my costs were around $3k for adding the second meter (which included the water meter connection fee and a the plumbers cost to run the new pipe from the house to the meter whip.