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Updated almost 11 years ago, 02/06/2014

User Stats

120
Posts
10
Votes
Steve Candor
  • New York, NY
10
Votes |
120
Posts

How are the Numbers on this property?

Steve Candor
  • New York, NY
Posted

2 duplexes. 4 apartments. Both for $250k (this is a packaged deal). Owner will help pay for the closing costs.

A.) 800/month, $700/month in one duplex
B.) $825/month $675/month in other duplex.


A.) $2400/tax per year.
B.) $2400/tax per year

Tenants pay hot water, heat, electric. All utilities. Tenants maintain property. Except for major stuff.

sewer & water -

A.)$90/month
B.) $110/month

insurance -

A.) $670
B.) $670

Security - only two tenants total. Both in A.

may need a new roof on one. Both properties have long-term tenants. Rents can be increased by about 5% if i replace tenants.

After mortgages, insurance, etc. Owner states making income of:

Duplex A: $525/month
Duplex B: $325/month

Good part of the city. Lots of renters but I probably wouldn't replace tenants. Just increase rents slightly.

What can you tell me about this property? Advice? Suggestions?

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