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Updated over 8 years ago on . Most recent reply

Grant Scott's profile image
Grant Scott's profile image
Grant Scott
  • Rental Property Investor
  • from New York City
  • Member since Aug 11, 2015
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Grant Scott's profile image
Grant Scott's profile image
Grant Scott
  • Rental Property Investor
  • from New York City
  • Member since Aug 11, 2015
Connect
Grant Scott
  • Rental Property Investor
  • New York City
0
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5
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Real Estate Deal Analysis & Advice

Help Analyzing Multifamily Deal

Grant Scott
  • Rental Property Investor
  • New York City
Posted

Hi BP,

I am looking to purchase my first rental property. It is a 9 bedroom, 3 bath, tri-plex. Each unit is 3/1. Property was foreclosed on and is listed at $290k by the bank. Numbers are below:

Asking: $290K

Repairs needed: $115k

ARV: $450k

Total rent: $5400/month

Taxes: $625/month

Utilities: Separate meters -  tenants pay

How much would you pay for the property? Is it a goo deal with the current numbers.

Thanks for the help,

Grant Scott

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