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Updated over 4 years ago,

User Stats

19
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3
Votes
Thomas Phu
3
Votes |
19
Posts

[Calc Review] Help me analyze this deal

Thomas Phu
Posted

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: 

  1. Bathroom needs updating but still in okay condition
  2. 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

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