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Updated 6 months ago,
[Calc Review] Help me analyze this deal
This property was listed $320K
Duplex with basement and 3 car garage in a Class B neighborhood . Multiple improvements done on this duplex in 2021, including new roof, gutters, flooring, drywall, electrical, appliances, and heating/cooling unit for the second floor. This duplex features a large backyard . First unit includes the first floor and basement, with 2 bedrooms and 2 full bathrooms. Second floor unit has one bedroom and one bathroom. First unit lease is up for renewal on 10/31/2024 and has a good long term tenant. Second floor unit will be vacant on 8/31/2024. Tenants pay for gas and electric, owner pays for water. Good income generator for both units and also gives the opportunity for owner occupancy. Current total monthly rent is $2675.
I am offering $260k. Would you consider this a good deal. I utilized 7% for CAPEX and 7 % for maintenance given recent updates .
Tenant pay for electricity and gas. Landlord pays for water. Don’t know if there is a way to push water payment to tenants
is this a good deal ? All options welcomed?
*This link comes directly from our calculators, based on information input by the member who posted.