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Updated almost 8 years ago,
What I thought looks solid, turns out to be 27 bucks a month?
Alright folks I'm rather new here and I was looking locally( Maine) for a small multi unit and found one that looked sold, Older but typical for my area, after I evaluated the " financial sheet" provided by the realtor, it broke down to only 27 bucks a month profit total. It's a two unit for sale at 116,000 the rents are 945 and 845 for a total of 1790 despite being described as " nearly 1900 in rents per month" The expenses broke down as follows heat, that I think is high at 4018 per year or 334 per month, taxes 235 water 34 insurance 62, maintenance 175 mortgage 564 property management 179 capex 90 and vacancy 90 for a total in expenses of 1763 dollars per month???? Can this be correct? 27 dollars profit for this property?