I am looking into purchasing my first property ever and I want to make sure that I'm doing all of the math right before I decide to make an offer. It's a 4-unit property (3 residential and 1 commercial) and the asking price is $185,000. I can do 3.5% down at a high end interest rate of 4% (I'm still waiting for official #s) for a 30 year term. The lender that I have been working with estimates $2,500 in closing costs and we both estimated $3,000 for taxes and $1,500 for insurance.

I haven't gotten in to see the property yet but based on everything that I have seen and heard the property is very sound and most likely won't need any repairs in the beginning. Many larger updates have been done in the last 1-3 years. I will be self- managing and paying the utilities on my own, which I'm conservatively estimating at $1,000/month. I also think that a conservative estimate for maintenance is $500/month. There are no HOA fees. Last I heard for sure 2 of the units were vacant, but the rental listings have since been removed so they may all be occupied at this time.

Unit A= $750 (might be vacant)

Unit B= $475 (occupied)

Unit C= $900 (might be vacant)

Unit D= $1,200 (commercial and occupied)

I have done the math using so many different scenarios and it seems to be a good investment (especially if I can get it for less like I am thinking that I can) but I am brand new to this so I would love to have other people confirm this for me. If you have any other questions please let me know. Thanks so much!

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