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Updated over 3 years ago,

User Stats

7
Posts
3
Votes
S Moulton
3
Votes |
7
Posts

Help me analyze this deal - first buy and hold rental

S Moulton
Posted

Hi folks, 

Would anyone be willing to give me a sanity check on my numbers for a buy and hold rental?  

View report

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

my general analysis is the following:

Description: a nice, simple Duplex that doesn't need much work - if any.

How are the numbers:

  • How much down: 20%
  • Interest 3.0%
  • Income: each unit rents for $1k/month.  Total of $2k.  Currently, both sides are leased.  
  • Expenses: 
  • Owner paid water ($35/month), garbage ($50/month), and lawn/snow removal ($50/month). 
  • Budgeting 5% for repairs/maintenance
  • 5% CapEx - new metal roof in 2016, no HVAC system, basic/cheap appliances in decent shape, septic.
  • 5% Vacancy - one unit's lease is up June 1, already have a signed 1yr lease for the new tenant.
  • 10% Management fees - seems about standard.  
  • Taxes, High, low, etc: Taxes in NY are a little different, and generally much higher than the Midwest (home).  The property is currently valued at $94k with almost $4k in taxes per year.  
  • Appreciation: ? 
  • Appreciate any thoughts, or letting me know anything I missed.  
  • Thanks! 
  • Edit... sorry about the formatting bullets - I cant get them to leave :( 

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