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Updated over 4 years ago,
[Calc Review] Help me analyze this deal
Hello BiggerPockets community! Can you please help me analyze this deal.
Property type/description:
2 Family - unit 1: 3bd/1b + Unit 2: 4bd/2b
Market rent in area: 4beds/1bath (rare): approximately $2000-2200 / 3bd/1bath: approximately $1800-1950
Utilities are separate
Property Condition is fair:
- Bathroom needs updating but still in okay condition
- overall property condition is good, move in ready but needs slight touch up
Currently: unit 2 is being rented for $1700 (below market), as they are good long term tenants
Unit 1: is currently vacant, pervious tenants just recently moved out was renting for 1600
Asking price: $449,000
My offer price: $460,000
Dp: 15%, Conventional loan
Pmi: $90/month
Variable expenses: 25% (including water)
wont be cash flowing until I can get market rent for Unit 2:
At Market rent:
Please let me know what you think about these numbers? Do you think these calculations are realistic?
@Massachusetts @Rental Property @investment Property