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Updated over 5 years ago on . Most recent reply

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Robbie Williams
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Robbie Williams, I assume this is property and the $1600 rent is for both houses?

  • Your vacancy is low. I'd figure 8%.
  • You've left out Repairs and CapEx (15% combined) and Management (10%).
  • Water/sewer might be a little low. I usually see $30-40/unit/month, especially when there are W/D hookups. Any way to sub meter this back to the tenants?
  • All other utilities are sub-metered, right?
  • What about lawn care?
  • Is there off-street parking? If not, that may be a turn off to potential tenants. Depends on what's customary in your area.

My back-of-the-envelope math shows ~$550/month cash flow and a CoC ROI of 17.5%. I'll take deals like that all day long. As long as you can get it for $105k, rent for $1600, and stick to that reno budget, this looks pretty darn good.

  • Jaysen Medhurst