Numbers check, please and thank you

[NA Loraine Nielsen]

Hi there. 3 duplexes (built in 2008) were just listed in my small town with very limited multifamily opportunities, so I was very happy to find them today! However, my numbers come out dismal, even after lowering the price to 210,000 (listing 248,000). This is for one duplex. I would be so grateful if anyone could look at my numbers.

From the listing:

Rent 950 x 2 = 1900/mo 22800/yr

Wtr/Sewer/Grbg 2640

Taxes $2669

Ins $600

https://www.biggerpockets.com/calculators/shared/6...

[Meghan McCallum]

Hi! Yes, a decent buy if you are looking to house hack. But, if you are looking to just inest in them it would be chasing appreciation. I'm not a fan...I live cash flow cash flow cash flow. The only appreciation I believe in is FORCED. 

You can have them pay for their own water and garbage. saves you 12% (also makes them more conscious of water usage thus being of a more green mindset)

You have prop mang at 10 %...will you be doing it yourself for a few years? If so...That may allow you to create a reserves account therefore you wont need to put away as much for cap ex and repairs bc it is a new build. You can put yard care on them.

Make sure you get a REAL insurance quote from a company. YES you can get one before you own it.

Again, if the area is in a newly appreciating market, it may make sense. But, the numbers are waaaaaay too tight for me.