Please check my math and thinking

[Rick Roberson]

Hi, Got a chance to buy a quad and wanted to see if you guys agreed with my math and thought process.

1 unit 2/1 rent $525

2 unit 1/1 upstairs rent $410

1 unit 1/1 downstairs rent $425.

Owner pays garbage & water/sewer. Seller said utilities run $150 per month but I can't believe that includes the garbage.

Taxes $1115 per year

The place was just completely renovated. All new electric, plumbing, roof, hvac. If I run

maintenance = $60

Insurance = $50

Landscaping = $50

Property Management = $175

Cap Expense = ???$50 (My thought is I am 50 years old. With everything new I'm not sure I really care about cap expense. Thoughts?

I'm not coming up with enough cash flow unless I leave out cap expense or plan on managing the place myself.

I can get it for $133k.

Thoughts??