Help - Deal Analyze - Buy & Hold

[Prashanth Sundar]

Hi, 

I am a new investor who got introduced to this forum recently and in a short time being here, I am amazed at the knowledge/resources shared here and the willingness of everyone to advise and guide others. I thank you all for everything you do here.

I am currently looking at one of the 2 family 1960's home in NJ which is listed at $410,000. I will be looking at the property soon, but want to get a headstart. Unit  #1 is rented at $2100 and Unit # 2 is vacant as the owner was using it for family / AirBNB. I am told that unit # 2 can be easily rented at $2100 as well given its location. This is one of the few investment properties owner has and is selling few of them, I was told. Roof, Electric, Plumbing, Central air/heat recently done (3 yrs approx). The property will be listed at $430k once it goes retail and the owner is sitting on one offer.

I have attached the Rental report from the BP calculators in here which shows me $500 monthly cash flow with 6.3% Cap rate.

I want to hear of what you think of this and any advises you may have. What am I missing to see / ask here.

https://www.biggerpockets.com/calculators/shared/1...