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Updated over 4 years ago on . Most recent reply
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NEED ADVICE! Please. Rental Property Analysis - Oregon
This is currently contingent, but I decided to run numbers on it anyways.
Property: 1639 Main St, Sweet Home, OR 97386
Listed Price: $445,000
4 units2/1s ~(842 S.F. Each)
Comp Rents: $1,000.00
- Vacancy- 6% ($2,880)
- Management- 9% ($3,360)
- Maintenance- 7% ($3,360)
- Cap X- 7% ($3,360)
- Mortgage & Interest - ($2,403) PITI
- .....Each unit is separately metered for electric, landlord pay water/sewer and garbage
- sewer/water - $225/mo
- garbage - $125/mo
- Total: $350/mo
What I got..
Cap Rate: 2.1%
Cash on Cash: 9.82%
(Using $445K purchase price, 20% down and I used 2% on closing costs.)
If it were possible to pass the garbage/sewer/water expenses over to the tenants it looks like the Cash on Cash could be 14%
and a Cap of 3%.
Does this look like I ran the numbers okay!?
Thank you all!!!!