Hey everybody.
New investor here with my first BP Post <gulp>. Also going to try and get a look at both of these properties tomorrow afternoon. That will be a first as well. I'd be lying if I said I wasn't nervous so I'm curious to see what the BP brain trust thinks of these 2 deals before I proceed any further:

Algonquin: Duplex with two 1/1's and a 2/1. Rent projected at $1425. $49,500 for the property and I'd say this one is a C- neighborhood. Pics look good except the roof so I'm estimating $15k to get it up and running. By my calculations that would leave me with a cash flow of about $600/mo. Here's the listing on Realtor.com:

https://www.realtor.com/realestateandhomes-detail/2-Algonquin-Ter-14611_Rochester_NY_14611_M39354-64031

Adams: 3-plex with two 1/1's and a 2/1. Rent projected at $1600. $74,900 for this one and I'd say this it's in a D- neighborhood. Everything seems pretty good on this one so I'm only estimating $3k to get it up and running. By my calculations that would leave me with a cash flow of about $528/mo. Does that seem right? Here's the listing on Realtor.com:

https://www.realtor.com/realestateandhomes-detail/245-Adams-St_Rochester_NY_14608_M47265-52888?view=qv

I'm including property management fees for both as well. The plan is to try and look at both tomorrow, review your comments, take a last look at the numbers, pray for divine inspiration, and then make an offer. I'd pay with a combo of cash and HELOC and then use a convention mortgage once rehabbed and rented.

Do these look like good deals to you all?

Thanks!

-paul

0 Votes

21 Replies

Jump to Last Reply

2 Deals to Analyze: Rochester NY

Most Popular Reply