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Updated about 7 years ago,
Duplex Deal in Greater Denver
I'm analyzing a duplex deal in the the northern Denver Metro and want an outside opinion.
Asking price of $365,000.00
Units were both completely remodeled in 2017, new electrical/plumbing/furnace/AC/roof/floors
Currently rented for a total of $2800 per month (I have verified the leases)
I figured the rates with 20% down, taxes and insurance included, and a lower maintenance budget due to the pristine condition.
I come up with a cap rate of roughly 8%, free cash flow of just over $11k per annum, and a CoCRR of 15%.
This looks to me like an obvious winner, especially in these market conditions where duplex's are hard to come by. Am I missing anything?
Thanks in advance!