1st Deal Analysis

[Ron J.]

New to the site and want to share the numbers on my 1st rental in Philadelphia.

3 bedroom 1 bath Row Home

Cash Purchase price after closing - 19,500

Rehab costs - 13,500

Total investment - 33k

Appraised Value after rehab - 44k

Cash out refinance - 33k at 4.12% 15 year fixed

Rent yearly (section 8) - 11,160

Mortgage & taxes yearly - 3,732

Insurance yearly - 1,080

Any opinions on how these numbers will hold up in the long run? Currently rented in a 2 year lease. Rent at 930 per month, $923 guaranteed from the housing authority, tenant pays $7 per month.