9th rental property in Indianapolis. Numbers inside.
I got my 9th rental property rented. Here are the numbers
3 bed 1 bath 1 car garage in warren township schools. Close to 465. 1100 sq ft.
House was in rent ready condition and needed nothing with new carpet, new paint, updated kitchen, roof only 3 years old etc.
Purchase price $51000
Down payment at 25 percent $12750
30 yr fixed at 4.75 percent
Taxes 1020 a year
Insurance 560 a year.
Rent $800 a month
50 percent rule $400 NOI
P/I $200
Cash flow- $200 a month
Any opinions?