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Updated over 9 years ago,

Account Closed
  • Harrisville, RI
2
Votes |
15
Posts

4 Family Analysis, Would You Buy?

Account Closed
  • Harrisville, RI
Posted

Purchase Price 180, 4 family built in early 1900's

Roof, heating, electric all updated in last 5 years, replacement windows and vinyl siding

Off street parking, dead end street c+ b- area

30/yr mtg 4.65% about 6k in closing costs

Annual income including coin op roughly 39k

Using 10% for repairs/mait, 5% cap ex, 8% gross rents for prop management, taxes, accounting, lawn/snow, trash, utilities etc....noi is about 14k

CFBT is about 6200k

I like to get about 200 per unit per month on a 4 fam which i would be able to if not for prop mgmt fee so I'm thinking this is a decent deal

Thoughts?

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