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Updated almost 9 years ago,

User Stats

243
Posts
12
Votes
Brian Huber
  • Investor Agent
  • Burke, VA
12
Votes |
243
Posts

Would YOU buy this?

Brian Huber
  • Investor Agent
  • Burke, VA
Posted

This would be my first buy and hold so I'd love to hear your honest thoughts. Thanks!

3BR/1BA SFH in Inkster, MI

Price: $28000

Gross rent: $9000 ($750/mo)

P&I: $114/mo for 30 yr note or $172 for 15 yr note

Annual Debt Service: $1368 or $2064

Taxes: $1900

Insurance: $500

PM 10%: $810

Maintenance reserve: $900

Gross Annual Income: $9000

Operation expenses: $5010

NOI: $3990

Cashflow: $218.50

Cash on cash return: 41%

Cap rate: 14%

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