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Updated almost 6 years ago,
Need Help Analyzing this 4 Unit
Hello BP,
I crunched the numbers on this 4 unit that I'm looking at and just wondering if I got it right.
A little background on the property:
C Class property in Dayton OH, by a well-known hospital
Listed at 150000, owner willing to finance with 20% down at 7% interest for 5 years then balloon payment
The place is fully occupied with long term tenants
Here are the numbers
Total monthly rent: 2150 + 200 (coin operated laundry)
Total monthly income: 2350
Expenses
Mortgage: 798.39
Taxes: 190.77
Insurance: 100
Electricity (for the laundry, tenants pay their own with separate meters): 85
Water/Sewer/Garbage: 110
Vacancy, Repairs, CapEx, Property manager @ 10% of rent each : 215 x 4 = 860
Total Expenses: 2144.13
Cash flow: 205.78
I did do the numbers on a much conservative side. Any feedback would be awesome.
Thank you for your time!