Average Multifamily Expense (water, garbage, etc)

[Tommy Hoang]

Hey everyone,

After researching a few markets throughout the country Omaha was one of our favorites so we're planning a trip to visit in Jan 2018 (would love to meet you guys at Collin's meetup if there is one). 

I'm posting to see if anyone can provide monthly averages on the cost of insurance, water, garbage, and sewer on B class multifamily units? We're setting our our calculator to properly analyze deals in Omaha so this insight would be really helpful.

Best,

[Johnny Hastings]

Your question is a bit broad, but I'll take a stab. These things are going to be dependent on many things, such as number of units, local service costs, and who knows what else. These apply to my situation, here in Central WI. 

These stats are for a 12 unit. Built in 2002. Heated via a gas boiler, that also provides the hot water. These will be average monthly costs, as you asked for:

Insurance: 222.33

Water / Sewer: 450

Garbage: 207

You didn't ask for these, but I'll toss them in for the sake of leaving a complete list of recurring expenses here. 

Gas / Electric: 275

Property Tax: 710

We have plowing expense in the winter, depending on whether the snow is flying. That's $80 per snow fall. Summer expenses for mowing are less, perhaps $40 per month. 

Monthly cleaning of the building and property totals about $100. 

That's the recurring expense list; I think it's complete. Hope that helps.