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Updated almost 7 years ago,

User Stats

71
Posts
10
Votes
Peter Bui
  • Orange, CA
10
Votes |
71
Posts

Riverside: First time poster/rental property analysis practice

Peter Bui
  • Orange, CA
Posted

Hi, 

Just posting on here to get some feedback on deals. I am aiming to rent out this property for cashflow + paying off mortgage. The property is located in Riverside and I will be offering 272,000 for a 4 bed (1 is a separate building in the back) and 2 beds. 

Feel free to be as critical as possible, won't hurt my feelings, as the more critical you are the more I can learn. 

Thanks!

Purchase Price: 272,000

SQFT: 1240

Closing Cost: $8160

Down Payment: 20%, 54,400 @ 4.5 Interest rate - 30 years 

Monthly Payment - approx. 1103

Rent Income: $2100

Property Taxes: 182/month

Insurance: $83.33/month

Vacancy: $100/month 

Capex: $100/month

Repairs: $50/month

Utilities - Tenants Pay

Cashflow: $482 = ($2100-$514.75(expenses)-$1102(mortgage)

ROI: 9.26%

HOA: 0

Management:  0, starting out managing myself 

Travel: 0 

Is there anything I left out that should be a major consideration or did I underestimate? 

Thanks in advanced! 

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