Commercial Insurance for an 650K value apartment for expense calc

[Joseph Wilson]

I am in the process of calculating how much the insurance will cost on a $650K 8unit apartment to help with my NOI calculation. I'm having trouble with that and how much the taxes will be. The current tax value is not reflective of what it will be when in operation.

[John Warren]

@Joseph Wilson ask your realtor for referrals for good insurance brokers. I have two that I regularly refer out that can get you the rates within a day or tow. The purchase price is somewhat irrelevant, as what you are really looking at is the replacement cost to rebuild the structure. I am purchasing a 6 unit now in Cicero, IL for under 300k, and the replacement cost is over 900k! The insurance is running me $1860 per year.