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Updated almost 9 years ago on . Most recent reply

User Stats

45
Posts
14
Votes
Darius Falahkhir
  • Rental Property Investor
  • Burlingame CA, San Francisco Bay Area
14
Votes |
45
Posts

My potential FIRST rental property investment deal

Darius Falahkhir
  • Rental Property Investor
  • Burlingame CA, San Francisco Bay Area
Posted

Hi all! I'm looking into my first real estate rental property deal and this one looks very appealing to me. This is what I know so far:

Property: Duplex 3/1 each side

estimated sq ft: 2070

Asking: 31,000 (multiple offers and was told that property may sell anywhere between 45k-50k so I ran analysis for 31k AND 45k)

Gross monthy rent: $800 per side, total $1600

taxes: 2975

Closing costs: 2500 (as suggested by the BP property analysis calculator: how do I determine a more accurate amount based on property to property characteristics?)

Estimated Repairs: 20k 

ARV: 75k

Down payment: 25%

Interest rate: 4.5% 

30 year fixed

I am estimating Vacancy, repairs and maintenance, cap Ex, property management all 10% EACH

How does this look to you guys?

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