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Updated over 6 years ago on . Most recent reply

User Stats

10
Posts
8
Votes
Ed Taslak
  • Rochester, MN
8
Votes |
10
Posts

[Calc Review][Newbie] Help me analyze this 4-Plex

Ed Taslak
  • Rochester, MN
Posted

Newbie here. I found BP at the beginning of August and have consumed tons of the content here, but I'm still not seeing how to find good investment properties.

I got myself a realtor in my area, and I have him sending me every Multi-Family that pops up. There are a total of 6 Multi-Family properties in my area. This one just popped up 4 days ago and I have already visited the property and been in every unit. 

Everything looks like its in great shape, all 4 units are rented  (I believe too low currently) and the only major thing is the kitchens of all 4 units are old. They would need to be completely upgraded at some point. The spaces for the stove/oven and fridge are too small for newer appliances to fit into. 

My problem is, even with the higher rent I believe I can get, the deal still sucks! I'm specifically looking at the Yearly ROI and Monthly Cash Flow. This property is listed at 30K less than another 4plex in my area that is in much worse shape and I still can't get the numbers to work out. Am I analyzing incorrectly? I don't really know what I am doing.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

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