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Updated over 7 years ago on . Most recent reply

User Stats

24
Posts
14
Votes
Russ Fry
  • West Chicago, IL
14
Votes |
24
Posts

New investor what do you think about this property???

Russ Fry
  • West Chicago, IL
Posted

So I found a 8 unit multifamily asking $325k. All 8 units rent for $800 including utilities. I did an analyst on BP which I provided below. Let me know what you think. I feel it is a pretty good deal since I ran the numbers at $5000 off asking price. I would prob not go in at that because this property has been on the market for close to a year. 

https://www.biggerpockets.com/calculators/shared/8...

I have looked into the area. It is the 7th largest county in IL based off Population. 34% of the population rents and the median age is 38 with an average household income of $49578. Numbers were based off a 2015 census. 

Now to figure out how to raise the down payment and do a little more research into the property and area. 

Let me know what you think...

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