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Updated almost 10 years ago on . Most recent reply
14 Unit Deal
Hello All,
Please help me poke holes in this deal.
-14 Units (13 1 BDR/1 2BDR), Desirable Location
-Avg 1 BDR Rent: $700/ 2 BDR: $100 (right around the median for the area)
-Built 1951
-Interior gutted last year: new kitchens, carpets, toilets, paint etc.
-New windows & AC Units
-Landlord paid heat (boiler) & water
Thanks!
| Rent | $ 119,460.00 |
| Vacany (8%) | $ 9,556.80 |
| Effective Rent | $ 109,903.20 |
| Water | $ 4,000.00 |
| Gas | $ 10,000.00 |
| Electric | $ 1,500.00 |
| Taxes | $ 12,000.00 |
| Insurance | $ 5,000.00 |
| Maintenance ($500/door) | $ 7,000.00 |
| Cap Ex ($250/door) | $ 3,500.00 |
| Management (9%) | $ 9,891.29 |
| Landscaping/Snow | $ 3,000.00 |
| Accounting/Legal | $ 1,500.00 |
| Trash | $ 1,200.00 |
| Total Expenses: | $ 58,591.29 |
| NOI | $ 51,311.91 |