$200k Duplex House Hack

[Marlia Stone]

Hello BPs! I am trying to do the house hacking investment in the Philadelphia area with a duplex. I need a little help breaking down the number and my profit of the property I found.

Purchase Price $200,000

Monthly Rent from Tenants: $1,490

Mortgage: $1,175

Profit Monthly: $315

Down Payment:$7,000 (3.5%, using conventional)

In my offer we will be asking for sellers assist. Does the numbers seem correct for a house hack or is it priced too high? I am open to all feedback.

[Mason Hickman]

@Marlia Stone

I think you are underestimating your expenses; make sure to include vacancy, repairs &maintenance, capex reserves, insurance, taxes, etc. Taxes and insurance may be included in your mortgage number, but even still, I think you want to reevaluate.