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Updated almost 2 years ago,

User Stats

16
Posts
6
Votes
Aaron Kelly
  • New to Real Estate
  • Cleveland, OH
6
Votes |
16
Posts

[Calc Review] Help me analyze this deal

Aaron Kelly
  • New to Real Estate
  • Cleveland, OH
Posted

Hello, I had been search for a fourplex around within Austin and found one. However, when I ran a calculation based on BP's rental property calculation, the results show so massively negative cashflow due to high mortgage amount, the interest at 6.5%, for FHA loan. According to Zillow's estimated data, it is about a $4,000 total expensive using a base 25% downpayment. With rental calculation, it tells me that the total cashflow is about negative $2,000 per monthly. Since the rental income is not detail in Zillow, I used a rent estimator from google and they tells me the rental is about $2,600 from all 4 units. I am bit confused.
So, I would like to expands my limited experience and with calculation by ask here what is correct calculation process and after result is show, what will be ideal moves about this fourplex? The property is attached below.

Address:

6420 S 1st St, Austin, TX 78745

https://www.zillow.com/homedet...

View report

*This link comes directly from our calculators, based on information input by the member who posted.

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