Deal Analysis Portland Area triplex

[Brian Bower]

I know you guys are gonna shoot me down but appreciate the feedback anyway...

SE portland Triplex

250k purchase price 5.1% interest with 20% down

rents currently $695 $675 $675

newer construction for the area. estimate rents are 10-15% below market

almost 0 vacancy rate(really.)

There is NO yard so the landscaping below is fairly bs.

I would continue paying water,sewer, garbage.

would raise rents by 50$ per unit within a year.

2 tenants have been there over 2 years. 1 for a year. Currently MTM.

2 dogs currently in 2 of the units :(

Operating Income & Expense
Income
RENT INCOME
Rent 24,690.00
Prepaid Rent -675.00
Total RENT INCOME
OTHER INCOME
Deposit Forfeit 470.90
Lease Penalty 285.80
Total OTHER INCOME
Total Operating Income
Expense
DIRECT EXPENSES
House Cleaning 140.00
Roofing / Gutters 225.00
Painting 1,600.00
General Repairs 282.97
Landscaping 1,585.00
Management Fee 1,850.00
Electricity 9.94
Water & Sewer 1,973.91
Trash Disposal 1,195.20
Total DIRECT EXPENSES
Total Operating Expense
NOI - Net Operating Income 15,909.68
Total Income 24,771.70
Total Expense 8,862.02
Net Income
Other Items
Owner Contribution 1,585.81
Payment to Owner -18,170.49
Net Other Items
Cash Flow
Beginning Cash 975.00
Beginning Cash + Cash Flow 300.00
Actual Ending Cash 300.00

provided by property manager.

Thanks in advance!