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Updated over 7 years ago on . Most recent reply
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help me analyze this purchase
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?