Anyone willing to help a newbie with her MFH analysis?

[Christina Lang]

Hi BP! Found a multifamily in a B- area of Philadelphia that I really like - mind taking a look at my analysis and letting me know if you think it's worth it?

• Price: $230,000 (seller is giving me a $3,500 credit toward closing costs)
• Total projected income: $2,300/month after accounting for 1 month vacancy per year
• PITI: $1,570/month
• Water/Waste: $175/month
• Maintenance/CapEx: $375/month
• $2,300 - $1,570 - $175 - 375 = $180 cashflow/month

I'll probably have to put in about $15,000 of improvements/upgrades to install central air/heating and submetering the gas lines before it's 100% ready for tenants.