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Updated over 7 years ago,
First Deal - Analysis Please!
I'd love some feedback on my first potential deal....prepared to ratify the contract. Details:
Duplex purchase price: $135,000
25% Down Payment: $33,750
Closing Costs: $4000 (projected)
Combined monthly rent: $1350
Annual Property Tax: $2260
Both units currently have month-to-month tenants
Assuming 5% each for vacancy, repairs, and capex
Will self-manage
$70/month insurance (projected)
30 yr mortgage @ 4.75%
Monthly Cash Flow: $371
NOI: $10,672
CoC ROI: 11.5%
This is assuming no issues arise during due diligence and the home inspection. Thoughts? Am I overlooking anything?
Thanks in advance!