Finding Positive Cashflow Units in Portalnd Area

[Nitish Paliwal]

Greetings Members,

TL;DR: I am trying to locate SFR units that may positively cash flow in and around PDX with maximum offering price of $325000. Is it even realistic given the fact that prices have soared within the last decade?

Details:

I have a question regarding opportunities in Portland Metropolitan, but specifically in and around Beaverton/Hillsboro/Tigard/Aloha area. I understand that finding an opportunity that positively cash flows is important, however, there are hardly any opportunities available within my budget. Given my (novice) experience level, I am looking for relatively newer units to avoid running into any maintenance costs that older units may offer. Here are typical numbers that I see, for a 3 Bed 2 Bath SFR that has been built after year 2000.

1. List Price: $320,000

1. Loan Amount assuming 25% down payment: $243,750

1. Expenses as following:
1. Vacancy Rate: 8%, $144/month
2. Custom Expenses: $50/month
3. HOA Fees: $50/month
4. Cap Ex: $90/month
5. General Maintenance: $90/month
6. Mortgage: $1095/month
7. Taxes: $240/month
8. Insurance: $50/month

Total: $1809/month

1. Ren Estimate: $1800/month

Conclusion:

• Monthly Cash Flow: -$9/month
• CoC ROI: -0.14%

Perhaps I am being wishful here to find an opportunity under $325K that offers positive cash flow, but it will be great to hear back from investors who are experienced in this areas.

TIA for any inputs you may have.