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Updated over 4 years ago,

Account Closed
0
Votes |
5
Posts

Could I get some help analyzing this SFR deal?

Account Closed
Posted

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!


 

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