My first BRRRR deal analysis (Duplex) Pennsylvania
Picked up an off market property that needed to be rehabbed to be brought back to life. I purchased the property for $165,000. $125,000 was through a private loan with a family member and I covered the rest and rehab.
My analysis on the numbers are as follows:
Rehab: $30,000
ARV: 270,000
Total Rents: $1350 per side= $2700 plus detached two car garage that could be rented for $100 per month.
All utilities paid by tenants
Lawn maintenance and snow removal: $150.00 monthly
I understand that there are many other factors involved in this analysis, but on the outside, does this look like a really solid deal?
My only concern is on the appraisal front, as there are very few multi-family units that have sold and the appraiser will have a tougher time coming up with an appraised value.
Please let me know what other questions that I can answer as I know there are many variables that are likely missing.