feedback for two flat investment property analysis

[Ryan Olejnik]

I would like some feedback on what people think of this deal. to me it looks good, and am ready to put in an offer. i figured why not jump on bp and see what others think. i tried to be a little conservative with numbers. i will be buying to rent out both units. building has been completely redone, so very limited repairs in near future from what i can tell. has two car garage.

50% rule =$280/month

2 flat-2 beds 1 bath each unit

asking price $229,900-offering 225k (few other offers already)

20% down

mortgage $871 (4% apr, 30 year)

expenses=$$855 (500 taxes, 100 insurance, 100 main/repair, 120 building util, 35 misc)

rent=$1100+$1200=$2300. pay their own utilities. feel good about raising rent to both 1200, been told that may still be a little low.

my calculation came out to +$382/month, including a month vacancy.

any response is greatly appreciated.