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Updated 8 days ago, 12/07/2024
Possible Duplex LTR Purchase - Would love any insight!
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?