Deal or No Deal - 7 unit residental property in Central PA

[Andrew Bosworth]

Looking for BP feedback on a potential property:

7 unit property near Harrisburg, PA.  Currently vacant, in need of some updates and renovations.

Purchase price: $160,000
Renovations: $50,000
Closing costs: $7,000

Monthly Income: $4,200

Monthly Expenses: $1,483

-Vacancy (5%): $210
-Insurance: $108
-Maintenance (12%): $504
-Taxes: $284
-Management (6%): $252
-Misc. Owner Expenses: $125

Financing: TBD

Stable market, highly visible location, off-street parking, close to amenities and transportation.  Value-add deal.