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Updated almost 9 years ago on . Most recent reply

User Stats

23
Posts
2
Votes
Dror Engel
  • San Jose, CA
2
Votes |
23
Posts

Looking for second opinion - SFH fort worth

Dror Engel
  • San Jose, CA
Posted

About the property:

4 beds, 2.5 baths, 3000 sqft and 5500sqft lot. Rent in the area currently goes from $1800-$1900 so I estimate $1850 in monthly rent. The house is 10y old and in B+ area. The house needs some repairs like fence, carpets and usual stuff. total rehab costs is ~8K but no more than 9K. 

The breakdown:

Price: 200K

Rehab estimate = 9K

Monthly rent: 1850

Mortgage + interest (30y fixed) = $847

Insurance = $100

Property management (8%) = 144

Taxes: 480

HOA: 26

Seller will pay 2% towards closing costs so my cash to close is only 20% down payment (40K)

Net cash flow = $250

The numbers don't include 10% maintenance and 5% vacancy. 

appreciate any kind of feedback!

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