Possible Duplex LTR Purchase - Would love any insight!

[Steven Wetherill]

Newly built (2024) duplex in Boiling Springs, SC.

List price: 445,000.

DP: 89,000

Closing: 8900

Total Invest: 97,900

Projected mortgage: 2500

Rent: 1700 per unit, 3400 total

Taxes: 42

Insur: 263

CapEx: 100

Repairs: 100

Vacancy: 100

Total expense: 3105

Cash flow: 295, 3.1% - 6.0% CoC return.

This deal doesn't meet the 2% or 50% rule of thumb, but it has positive cash flow and is in a growing market, according to the latest 2024 Top 100 data from BP. 

What questions should I be asking? What have I missed?

[Aaron Oquendo]

@Steven Wetherill

Hey Steven, I just looked at some current duplexes on the market in Boiling Springs. From my research on Zillow, I'm seeing a duplex that has for about $311 per month in that area so not sure if $42 is the most accurate number for monthly taxes.

For the most accurate yearly tax figures, you can check directly on the Spartanburg County tax assessor's website. I've found it below

https://qpublic.schneidercorp.com/Application.aspx?App=Spart...

If you need a tool to run your deal I have created this free tool that you can use btw
https://real-estate-tools.com/real-estate-deal-calculator/?a...