Advice on a multi Family Deal

[Clementene Taylor]

Hey all, just looking for a little input/number check on a potential deal. I have been looking for a nice multifamily. I plan to live on one side for about a year or two.

Duplex: 3/2 on both sides (1693 sq ft on each side), built in 1997. The duplex is located in a Class B neighborhood in Fort Worth TX. Property is in really good shape but may need some minor updates to get top rent in that area.

I plan to live in one side for a year or two but I ran the numbers as though I’m going to rent out both sides and hire a property manager.

The sellers asking price: 599K

5% down ($29,995) (Purchasing as a primary)

30 year note @4.50%: $2887.62/Month

Insurance: $160/Month

Taxes: $566/Month

Total Mortgage: $3614/Month

Rent: $2500/side

CAPX: $250/Month

Mx: $150/Month

Vacancy: $150/Month

Property Management $400/Month

--Cashflow: $435.79/Month

*Zero management cost for the first couple of years but I want to

*Both sides are currently vacant I plan to live in One side for 1 – 2 years and rent the other side out. I don’t see a problem with finding tenants because it’s in an up and coming area.

Any input/advise would be appreciated! Thanks all!