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Updated about 4 years ago,

User Stats

24
Posts
15
Votes
Joshua Nowell
  • Rental Property Investor
  • New York, NY
15
Votes |
24
Posts

[Calc Review] Help me analyze this deal please

Joshua Nowell
  • Rental Property Investor
  • New York, NY
Posted

View report

*This link comes directly from our calculators, based on information input by the member who posted.

So I watched alot of Brandons videos on analyzing a prop so I keep an eye out for high CoC / annualized return / Cashflow & expenses. This deal seemed interesting for the BRRRR / house hacking method I wanted to do. The only problem is the asking price is $425k. I ran a comp check and found an ARV of around 550k but this home (as seen in the photos) is in complete disrepair and needs a full gut rehab.(I assume this would be a little over $100k. Ive never rehabbed so I need to be sure.) There is a basement so if I can live in it and get all the rooms rented Im looking at a 6k rental income. The numbers seem good on the report but something tells me this isnt necessarily a good deal since its been on the market for this long. I mean his asking price seems way too high for a property in such poor condition. 

Can I get some advice on what im missing or if this seems normal? 

Thank yall very much.

P.S - My numbers are conservative on returns.