Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

2
Posts
0
Votes
Celia McIntosh
  • San Diego, CA
0
Votes |
2
Posts

Maintenance Costs in Metro-Detroit

Celia McIntosh
  • San Diego, CA
Posted

Hello, After lurking on Bigger Pockets for a few months I am finally making some moves to invest in my first property. I decided to invest in Metro Detroit (not Detroit proper) since it is more affordable than where I live now and because it's where I grew up. 

I have been pre-approved for a mortgage and have started some deal analysis of SFR, but am struggling to determine how much to assume for maintenance costs. I have been applying the 50% rule on top of PITI and property management, but am wondering if I am being overly conservative. On a $1,200 rental something more like 30% seems reasonable, which ends up being $4,320/year. I have never owned a home so I don't have a benchmark.

Does anybody have any guidance on what maintenance costs might be in an average year for a three-bedroom SFR in reasonable condition? By reasonable I mean not brand new, but not falling apart.

Thank you!

Celia

Loading replies...