Rockville, MD · Member since 2018 · 9 posts · 3 votes
Hey Guys
This is my analysis of a Rent ready Single Family House for Sale in this zip code: 21207. Can you guys give me Feed back about this. Thanks in advance.
SFH for sale : 3 Bed,2 Full Bath -$100,000.00 ( Baltimore County 21207)
ZILLOW VALUE : 120,000.00
Average Rent : 1,600(I called 4 similar Properties Same Area for Rent -Realtor.com)
I am planning on buying using my own cash and then use Fannie Mae-Delayed Financing Exception to recycle (3 to 4 weeks)my money and repeat.
Mortgage Loan PI : 30 years 4.6% $ 513.00
Property Tax : $ 209.00
Insurance: $ 28.00
Total : $ 750.00
Utilities/landscaping Paid by Tenants and Major Repairs by Landlord.
Fairfax, VA · Member since 2017 · 183 posts · 58 votes
8y
Looks like a good deal The rent seems high for a property that value. Don't forget to add vacancy (about 5% of the rent) cap ex(5%) and repairs (5%) into your calculations.
Baltimore, MD · Member since 2018 · 5 posts · 1 vote
8y
I live in 21207 and rent for detached 3 bedroom are closer to $1400-1500 threshold because most of the homes in this area are cape code with some split levels from the 80-90 era
Baltimore, MD · Member since 2016 · 14 posts · 6 votes
8y
Agreed with Krystle on being prepared to accept a lower rent especially if you want to get a tenant in there in a timely fashion. That being said it seems like the best 3 bedroom houses in the area are pulling in 1600 so if that's what you've got then awesome. Do you plan to use a property manager?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
8y
@Moises Perez in your first post You have grossly underestimated expenses.
I had to look up what rent arbitrage is. It is simply a form of sub leasing. You are not going to get away with that in most rentals. Most rental contract specifically do not allow sub leases.
Given the regulatory pressure Airbnb is under it seems like a risky proposition.