Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 on . Most recent reply

Account Closed
  • Saint Paul, MN
8
Votes |
28
Posts

Looking for advice on an analysis of a triplex in Minnesota

Account Closed
  • Saint Paul, MN
Posted

Hello fellow BP members.  My name is Sean Dawson, I am a biggerpockets member and have been analyzing multifamily deals in the outer areas of the Twin Cities using the biggerpockets calculators and ran across a triplex that looked promising.  I was hoping to get some feedback on my numbers since I don't live in that area and don't know the market up there.   Is there something I'm missing?  This is one of the only deals I've seen where cashflow isn't negative. 

1968 triplex with 3 car garage on the market for 71 days.

Purchase price: $289,900

Estimated cost of repairs:  $5000

ARV: $335,000 (this is best guess with what comps I was able to dig up)

Closing costs: $2500

Down pmt: 25% ($72,475)

Loan amt: $217,425 amortized over 39 years @ 5% interest

Utilities are paid by tenants so I would only have to worry about trash ($84/mo), insurance ($167/mo).

Maintanance and repairs: $132.10

CapEx: $264.20

Vacancy: $132.10

Property taxes: $279.67

Rental income: $2642.00

Cash flow: $415.75

Cash on cash ROI: $6.24%

I have not walked the property so I can't be certain what the HVAC or roof look like.  The purchase price is also the asking price, which means I could potentially ask less since it's been on the market so long.

Any advice or input would be greatly appreciated in my quest for knowledge and education.  Thank you in advance.

Most Popular Reply

User Stats

518
Posts
354
Votes
Jennifer Rysdam
  • Rental Property Investor
  • Cleveland, MN
354
Votes |
518
Posts
Jennifer Rysdam
  • Rental Property Investor
  • Cleveland, MN
Replied

I don't have any answers for you, as I am also new. I just wanted to give my support and say that you are doing a great job just doing your homework and asking for advice. There is a lot of great advice on BP and I've sure learned a lot here. Best wishes with your first purchase.

Loading replies...