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Updated over 7 years ago,
Is this a good deal?
I have come across the opportunity to buy a town house for $74,000, that recently appraised for $115,000 & rents for $900 monthly.The property is in great condition and needs no repairs at the moment. It has tenants already that have been renting for over a year. There are no HOA fees. Financials below - I'm just not sure how much I should realistically be aiming to make off of each pro
Mortgage | 465 | ||||||||
PMI | 0 | ||||||||
Insurance | 32 | ||||||||
Taxes | 64 | ||||||||
Vacancy | 45 | ||||||||
Cap Ex | 90 | ||||||||
Maintenance | 45 | ||||||||
Property Manager | 0 | ||||||||
Total Exp. | 741 | ||||||||
Income | |||||||||
Monthly Rent | $900 | ||||||||
Annual Rent | $10,800 | ||||||||
Cash Flow | |||||||||
Monthly Cash Flow | $159 | ||||||||
Annual Cash Flow | $1,908 |
perty. This property cash flows $160 monthly based on my projections.