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Updated almost 10 years ago,
1/2 Duplex Condo-Fitchburg, Wisconsin
1/2 duplex $155,000. Taxes are $3600/year. 2000 sqft, 3 BR 2 Bath, 2 Car garage- would rent for $1400/month. The listing says "Duplex Condo" but no condo fees....?? How does that work? It is in a good location (A/B+ location) and looking long term, the other 1/2 of the duplex may come available down the road which would make for a really nice property.
Assume 4.5% 30 year, on $135,000 loan
P&I= $684
Taxes=$300/month
Insurance=$100/month
tenant pays utilities (Water, Electric/Gas, Garbage)
Snow/Lawn=$35/month average
total $ 1084/month-$1300 (low side of rent) =$181 cash flow/month.
Thoughts? What am I missing? I can attach the link for the listing but not sure if there are rules against that on BP.