Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Could I get some help analyzing this SFR deal?
Hi all,
Thanks for taking the time.
I'm brand new to real estate, so wanted to get some advice before I move on this deal.
Here's the rundown:
Type: SFR townhome 3bd/3ba 1,642 sq ft.
Cost: Upper 280s but I want to get it down to $275,000
Financing: 30-year mortgage, 25% down
IR: 3.5%
Maintenance Budget: $1,500/year
Rent: $1,650
Monthly Cash Flow (based on calculations): $233
This is in a military town with current military residents.
So, if I were to buy, I would already have tenants for at least another year.
Also, I'm going straight for a cash flow property because this is my first one and I just want something that's going to be relatively safe and conservative.
I'm not really betting on appreciation or anything, and my calculations are based on never raising the rent at all. Though in reality, it would probably be pushed to $1700 or $1750 after the current contract is up.
Any thoughts? I'm happy to provide more info if need be.
Thanks!