Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago,

User Stats

2
Posts
1
Votes
Annique Witdoeckt
  • SF/NY
1
Votes |
2
Posts

Am I doing this right? New to deal analysis

Annique Witdoeckt
  • SF/NY
Posted

Hi there! 
I've been running some deals in a spreadsheet and I'm unsure if I'm doing this right or if I'm missing something. Was hoping some folks here at BP were willing to take a look and give some feedback?

Here's an example of a 6 bed 2 bath multifamily that's now off market but was priced at $599,000:
https://www.zillow.com/homedetails/6-8-Belleview-Ave-Ossining-NY-10562/33076551_zpid/
* Rentometer gave me an avg rent of $2,759 for a 3 bed 1 bath, and this property has two units like this. So I'm using $5,518 for monthly rental income. (Note: Zillow's "Zestimate" is $4,200, but I'm using Rentometer for this particular deal.)
* I'm using 5% of that for maintenance ($276), 5% for vacancy ($276), 5% for cap ex ($276), and 6% for prop mgmt ($331).  
* Zillow had taxes and insurance estimated at $983 and $210 respectively.
* Using mortgage calculator plus, with a 20% down payment ($119,800) and a 30 year fixed rate mortgage at 6.5%, the monthly mortgage payment woud be $3,029.

Using those numbers, this property should cash flow about $137 per month for a 1.3% ROI.

Does this look right to you?
Any other comments or feedback?
Thanks for taking a look!

Loading replies...