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Updated almost 6 years ago,
Help me analyze this deal
Hey Guys!
First time here and I am looking to purchase a single family house in Cleveland OH.
Asking price is $45,000
Area = 1742sq
Looking to put 20% down and amortize for 10-15 @ 5% or so
The house is currently renting for $1,100 a month and the tenants are looking to stay long term.
Rental Income = $1,100\month
Property taxes for this house was $1,168 last year.
Water and Sewer averages about $80-$100 a month combined.
Property insurance is about $800-$900 a year.
Let me know what you guys think.
Thanks!!