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Updated about 8 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
LyNetta Hill
  • Hazelwood, MO
3
Votes |
18
Posts

Something isn't right with this 4plex

LyNetta Hill
  • Hazelwood, MO
Posted

Hey Everyone, 

So here's what I have:

I'm in the St. Louis area and the property I'm looking at is a 4 unit 2 bed 1.5 bath townhome asking price is $599,900, I'm assuming because of the many repairs it listed such as new roof, floors, kitchen and the list goes on. With the area it's in and all the updates I would assume the rent to be anywhere between $700-850. The property tax however is what's bothering me its about 9K (which could be completely normal but I'm not too sure). So I ran it through the BP calculators and well I have a negative CF of like $960 (YIKES!!!) Any who I would love to house hack but this doesn't seem like a good deal. Am I doing this wrong or is the price and the property tax just too high? I'm just not sure about this one so I would love some feedback and I'll provide whatever information I may have forgot.

Thanks 

-LyNetta H.

Most Popular Reply

User Stats

199
Posts
190
Votes
Anthony Hurlburt
  • Salt Lake City, UT
190
Votes |
199
Posts
Anthony Hurlburt
  • Salt Lake City, UT
Replied

Even without the high property taxes this is a terrible deal.

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