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Updated almost 11 years ago, 02/06/2014
How are the Numbers on this property?
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?