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Updated almost 6 years ago,
Feedback on my first analysis
Will try to give all relevant details here, let me know if I miss anything
8 unit apartment building in Western, NY. 6x 1bd 1ba, 2x studio, 265k purchase price
Max total rents - 55,800/year
Max Current rents 42,000/year (2 vacancies right now)
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Rents w/ 87% vacancy (on average 1 apartment always vacant) - 48,900
Trash - 700/yr
Gas/Electric - 480 / yr
Insurance - 1083/yr
Water - 1040/yr
Taxes - 7650 / yr
Management - 4128/yr
Maintenance - ?? (Not on listing) Using 50% rule, I used 9,373/yr as an estimate
Mortgage P&I - 14,400 (not sure how to estimate, I guessed with 25% down, at 6% for 30 years)
Cash Flow after expenses and Mortgage - $10,050
I feel like this looks like a good deal and that I am missing something here. Thoughts?