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Updated over 7 years ago on . Most recent reply

User Stats

196
Posts
70
Votes
Austin Works
  • Investor
  • West Monroe, LA
70
Votes |
196
Posts

Is this a good deal?

Austin Works
  • Investor
  • West Monroe, LA
Posted

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.

Most Popular Reply

User Stats

196
Posts
70
Votes
Austin Works
  • Investor
  • West Monroe, LA
70
Votes |
196
Posts
Austin Works
  • Investor
  • West Monroe, LA
Replied

So $160 for a single rental is a decent cash flow? I'd have no money in this deal after the refi. Obviously, this will be my first rental. 

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