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Updated almost 6 years ago,

Account Closed
  • San Jose, CA
2
Votes |
4
Posts

Feedback on my first analysis

Account Closed
  • San Jose, CA
Posted

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)

---

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? 

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