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Updated almost 9 years ago,
- Rental Property Investor
- Burlingame CA, San Francisco Bay Area
- 14
- Votes |
- 45
- Posts
My potential FIRST rental property investment deal
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?