Numbers for a Multifamily Property Analysis

[Jay O.]

Happy New Year once again everyone. Hope everyone had a safe and great one. Wishing every one an even better year in REI and every other goal you plan to acheive in 2014.

Just wanted to know how do these numbers look for a 8 unit Multifamily, BP Guys/Gals? Property is in the Southeast Market. I'll be putting down 30%. Possibly my first Multifamily purchase! Let me know before I sign....The dotted line! Thanks a million!. :)

Cost Analysis Performed as Rental Property

$400K

In:Southeast Market

8 Unit Multifamily

Completely Remodeled, Renovated and Updated

Conveniently located to restaurants, downtown, shopping, etc....

Additional Income from Coin-Operated Laundry

Corner Lot, Great Frontage

Rent - $68,940.00

Out:
(Annual) Actual Taxes - $3,651.00
(Annual) Estimated Insurance - $2,280.00
(Annual) Property management (optional) - $5,515.20
(Annual) Misc -$10,956.00

Net:$46,537.80

Earn:
Total yearly equates to -$46,537.80

CR: 12%

• Net Operating Income

  $45,421