First House Hacking Analysis

[Alex Kofi Appiah]

Duplex in Lakewood Ohio

Asking Price = 152K , Potential Offer = 152K , Gross Monthly Income = 1750

Total Expenses w/o Mortgage = 945 (taxes, capex = 5%, property mgt = 10%, water/sewer = 100, repairs = 5%, vacancy = 5% , snow/lawn = $50)

Rehab budget = $5000 (for flooring and the kitchen, the other unit has been fully renovated and rent for 900 bucks)

Summary:

Total Monthly Cash Flow with property mgt = 106

Total Monthly Cash Flow without property mgt = 276

Total Cash Invested= $12,351.00

Yearly Cash on Cash Return with property mgt = 10% 

Yearly Cash on Cash Return without property mgt = 27%

(This is my first deal so I'll be house-hacking, DEAL or NO DEAL)