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Updated almost 8 years ago,
Something isn't right with this 4plex
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.