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Updated about 7 years ago,
5 family analysis help please
Hi everyone. Got a potential property I want to make an offer on, wanted to run it by some collective mind stress testing.
5 family, 4 1+1, 1 2+1
Max purchase 190k
Rent 2600/mo (room to raise)
PITI 1225/mo
25% down, 25yr fixed @5.5%
Closing 3k
Down payment 47500
Vacancy 8.4%
Repair 5%
Capex 5%
PM 10%
Landlord utilities 150/mo
DCR 1.56
GRM 6.09
2% rule? =1.33%
Cash flow net $486
COC ROI 11.2%
Currently fully occupied, c+ neighborhood, only multifamily on the block, room to raise rents to ~2750 easily. So thoughts BP?