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Updated almost 7 years ago,
Riverside: First time poster/rental property analysis practice
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!