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Updated almost 12 years ago,
5 unit investment analysis is it a good deal?
I'm in the process of closing on a 5 unit (4 unit 2 bdrm 1 unit 1 bdrm)
price is 199K
total income 33300 less 5% vac ~31635
total exp 14802
Taxes are 6890
Insurance 1250
Electric 600
Water 800
Mgt 1581
Maint 1581
Reserve 1250
Snow 400
Lawn 450
Annual payment to mortgage is 10.8K
I wanted to get others take on the numbers, i'm doing my due dillegence and background it is in an ok area middle to lower income right outside of buffalo, virtually no crime but incomes are a little lower in this area so i would class it in a B almost C neighborhood.
wanted to see what others take is on this is it a good deal? and am i missing something.
I know with the mortgage at the end of the day only leaves me to pocket 4K... could you give some insite to a new investor here. thanks