Need another set of eyes-Corning NY 4plex

[Stephen Matusick]

Hello there everyone- I have a house down the road from me that went on the market a little bit ago. It would be my first rental property I've ever bought- so I'm just interested if anyone has some free time to look at the numbers and see if they are close to what I'm looking at- using this calculator- and emailing the realtor- it's 4 units- 3 2BR 1Ba and 1 1BR 1Ba units. 800 rent for each of the 2BR and 650 for the 1BR. I'd have to come up with the down payment- there's a learning process in that as well- but at 135K grossing 3050 potentially a month seems pretty decent- looks like about 1K a month net income- even with a property manager.... currently one unit is rented the others could use a few dollars put into them for maintain, not upgrade.....

https://www.realtor.com/realestateandhomes-detail/...

Four Units w/great income potential! There are three 2 BR apartments and one 1BR apartments. Two lower apartments (101 & 102) on same electric. All other utilities are separate, except for water. Four hot water tanks. New roof 2018 on North & West side of house.

Thank you all!

[Fred Weinkauff]

Could be potentially a deal, but ask why is only 1 unit rented? Do you also have the $$ to renovate the other (3) units? If no one new is moving to the Corning area you will have to get your new tenants from other local landlords. So think of what needs to be done to your Apts to make other tenants want to rent your units.