2 Family Rental Analysis

[Michael Lebeau]

Looking for that 2nd investment property. Came across a 2 family that needs quite a bit of work but I'm in love with the location.

Here my analysis put together... would like some opinions, or advice if I'm missing something

Purchase Price - $50k

Repairs - $40k

Monthly Mortgage Payment w/interest - $260

Property Taxes - $290

Insurance - $150

Heat - $200 (currently setup to share heat off of one boiler, so would have to include heat in rent)

Maintenance - $100

Monthly expenses - $1,000

Rental Income

Unit 1 - $600

Unit 2 - $800

Monthly income - $1,400

Thanks ahead of time for the advice!