[Calc Review] Help me analyze this San Antonio turn key rental

[Stone Saathoff]

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This rental has already been rehabbed and has a tenant in place. How are the numbers?

[Tim Herman]

@Stone Saathoff are you buying or selling. Not very aggressive on your soft costs. Vacancy of 5% is the tenants staying an average of 20 months. With covid some landlords could be out 4-6 months of rental income which your vacancy analysis would be 10 years at 6 months lost income. Capex is way low. Brand new floors. assume 1000 sf of flooring. 10 year life span. My area it is $6 sf to replace. $6000/10 years/12 months in a year=$50 per month for 1 item. You won't be able to replace roof 25 year life span, appliances and hot water heater 12 years life span, hvac 20 year life span, bath and kitchen remodel 20 year life span, etc. I use a minimum of 10%. PM must not charge rent up fees. Even at your 20 month turnover and 1 month rent up fee, that is the equivalent of 10%. 2 months lost rent/20 months = 1/10. Insurance seems high for a rental property.