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Updated almost 5 years ago on . Most recent reply
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rental analysis - still need a hand ( newbie newbie here)
OK - Hope I categorized this appropriately!
BLUF: used the BP calculator but inputs (rental history, expenses - still unknown; I guessed) should I set some scenarios and go? tried this!
background: Four plex; gas and water by building owner. high cost; hard to rent?!
one unit rented (the others - no history) high gas bills (adds to each unit a $150 (gas) and water $50 roughly) making it expensive to live there (I think).
according to rent0meter I should be charging $725/ month, making it $925! now with these high utility cost (building systems and bad windows makes it a bit inefficient) will I be stuck without renters? is this reasonable - it’s pittsburgh. with one boiler and 4 units, they really can’t control the cost). some room to do some things there - thermostats for each radiator - roughly $200 a pieces, 14 needed - easy. otherwise ‘double hung’ thermostats - the open the windows if too hot!
I budgeted replacement of 2 bathrooms and 2 kitchens and the replacement of 7 windows - all OK.
should I walk away??
assuming some clarifications are needed here. I’m not emotionally attached to the building, but don’t want to walk away until I have a chance to hash it out with a few pros! need some help walking/ talking this through? thanks