Thoughts Of Analysis on a 4 Unit

[Henry R.]

I'm scheduled to look at this 4-plex later today.

Asking price is $109,900

These figures are based on a purchase price of 90K A little more than 20% disconut price

22500 25% down
Loan rate 5% 30 yrs
Montly rental minus 10% vacancy $2070
Home owners 700 yr
taxes 6300 yr
monthly expenses $620 not including PM

RENTAL INCOME 24840 YR
Total expenses 18784
Total loan payments 4344
Cash flow $6056
Intrest expense $ 3375
Depreciation $2945
Total tax deduction $4080
Tax saved -612

Net after tax cash flow $5444 or $453

This is from an on-line Investment Property Calculator.
I kept it as short as I could.

These figures are at 15% discounted price

Purchase Price $93415
Down payment $23,353
Loan rate 5%
Term 30yrs

Monthly rental less 10% $2070
Home owners 700 yr
Taxes $6300 yr
Monthly expenses $620 NO PM

Rental Income 24840
Total Expenses 18952
Cash Flow $ 5888
Intrest Expense $ 3503
Depreciation $3057
Ins, tax, other expenses $14440
Total tax deduction $-3840
Tax saved $-576

After Tax cash flow $5312 or $442/mo.

Taxes are high in NYS.

There is a misc expense that is included in the figures at $ 4739 per/yr. I need to find out what that is.

Thoughts anyone that is into buy and hold? It's a tad over $100 per door. I know Brandon Turner likes to see $200 per door on a 4plex, that has been tough for me to find at this point.

What would be your offer on this property?

Thanks so much to everyone in advance.