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Updated over 7 years ago on . Most recent reply

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12
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0
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Kelly Stevens
  • Salt Lake City, UT
0
Votes |
12
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help me analyze this purchase

Kelly Stevens
  • Salt Lake City, UT
Posted

Hello Please help

This is in a very hot market in one of the best neighborhoods in the city. 

Duplex built in 1946 needing a new roof at some point and refurbish and repaint the outside shingles - 15000$ deferred capital improvement.

Price - $420,000

Gross income would be $28800/year (no vacancy rate - really!!)  - 1200 each so $2400 per month

Operating costs would be $7652/year ( prop tax, insurance maintenance, utilities, landscape) 

down payment 84000 borrow 336000 at 3.6% - 1589 which is $19068/year

So I would net $172/month with an output of $84000.

Would you buy it?

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