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Updated about 7 years ago,

User Stats

31
Posts
5
Votes
Kelly Kormos
  • Investor
  • Nashville, TN
5
Votes |
31
Posts

Duplex Analysis- Help- How does this look and what else needed?

Kelly Kormos
  • Investor
  • Nashville, TN
Posted

Email I received:

"Deal fell through do to financing and we are looking for a quick close.

3 beds 1.5 baths each side with a living room and den or potential 4th bedroom downstairs.

Both have a single car garage and an additional storage space.

Total Square Feet 2,675

Lot is 50 x 169

One side in great condition and is rented to a relative MTM. The other side is vacant and needs to be rehabbed to rent. Probably about 10k to get top rent in the area. Roof is less than 5 years old HVAC and Windows are new. Both sides can be rented for $1,400 each.

Asking $235,000"

** No pictures sent and none in the MLS from previous listings so they have been requested

** Numbers I calculated if they will take a financed offer.  I do not want to pay cash- it would be all I have- if this is a mistake, please let me know alternate solutions.  I am open to being creative.  

$2,800.00MONTHLY INCOME

$1,749.56MONTHLY EXPENSES

$1,050.44MONTHLY CASHFLOW

10.09%PRO FORMA CAP

$23,702.00NOI

$76,298.00TOTAL CASH NEEDED

16.52%CASH ON CASH ROI

10.09%PURCHASE CAP RATE

--Any thoughts or opinions on this?  What additional info do I need that I should gather before going to see the property? 

Thanks so much!  

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