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Updated about 9 years ago on . Most recent reply

User Stats

52
Posts
8
Votes
Ramon Moreno
  • Chicago, IL
8
Votes |
52
Posts

analysis of existing property

Ramon Moreno
  • Chicago, IL
Posted

Hello every one, I'm trying to analyze an existing property that I've owned for the last five years. This is my one and only property and I need to make sure I'm not fooling myself about how much cash flow there is and what my ROI is. this is what I did please tell me if I'm on the right track

2010  purchase price.                     210000

#Lost my job 2 months after purchase had a modification done. Current balance 203000

Mort.                                              1080

Taxes& insurance.                            700

Interest rate.                                    4.3          Improvements over the last 5 years 30000

Rents.                                                 2475

ARV. Comps done 9/15. 350000

The 1% rule says im doing ok but once you add vacancy, cap ex, maintenance and repair it's a different story. I used the rental property calculator but I can't figure out how to add it to this post

Most Popular Reply

User Stats

6,137
Posts
5,082
Votes
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,082
Votes |
6,137
Posts
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Ramon Moreno - You would input the actual expenses from your tax returns (I would do the average of the past 2-3 years) into the BP calculator.  

The compare it to properties currently on the market.  Depending on where in Chicago it is, it can be very hard to find the 1% rule nowadays.  

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