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Updated over 8 years ago,

User Stats

19
Posts
1
Votes
Todd Ryan
  • North Chili, NY
1
Votes |
19
Posts

Afraid to pull the trigger, is this a good deal?

Todd Ryan
  • North Chili, NY
Posted

I live in the Rochester NY  area. I've been looking to buy my first multi-family house all summer long.My search has been mainly on the mls and craigslist.I've been having a hard time finding something that will meet my needs and also cash flow. My plan is to use the house as an owner occupied and eventually move out and rent the whole thing,and repeat .I've seen this strategy referd to as house hacking on the site.l found a duplex in a decent area with enough storage for my equipment but lm not sure about the numbers .Here it is, I would appreciate any feedback. Is this a good deal? .list price 110k, annual taxes $4900, current rents $1300 combined, utilities split except water, water about  $50 monthly, garbage $60 a month ,insurance not sure estimate  $100 a month .furnaces water heaters and roof 18yrs old, house built in the late 1940s .mortage info 5% down 3.5%interest for 30yrs .

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