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 about 7 years ago,

User Stats

36
Posts
8
Votes
Tim B.
  • Blue Springs, MO
8
Votes |
36
Posts

First Duplex Analysis - Am I missing anything?!

Tim B.
  • Blue Springs, MO
Posted

Good evening. I've been a lurker on this site for about a year or so. I'm finally in a position where I feel that I can successfully purchase my first property. My plans is to buy and hold rental properties. That being said, I've found a property that I feel is a good deal (assuming I did the numbers correctly) and want to get some feedback to be sure I'm considering everything. I've used the rental property calculator through BP and it seems good. Here's what I've got....

Asking price: $124,900 (I'd like to offer less to get a better COCROI)

After repair value: $124,900

Closing costs: $4,000

Repairs: $5,000

Down payment: 20%

Interest rate: 4%

Amortization: 30 years

Annual taxes: $1,423

Income: $1,300 total monthly

Utilities: $0 (paid by tenants)

Vacancy: 5%

Repairs and maintenance: 5%

Cap ex: 5%

Property management: 10%

Annual income growth: 2%

Annual property value growth: 2%

Annual expense growth: 2%

Sales expense: 6%

Am I missing anything here? With those numbers, I get $1,300 monthly income. $920.62 monthly expenses leaving me with $379.83 monthly cashflow. I'm also seeing a 13.4% COCROI (assuming I pay the full asking price). 

Please let me know if I'm missing anything. I'm pretty excited as this could be my first property to get me started in real estate and the first step towards financial freedom!

Loading replies...