Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 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.

Loading replies...