I am looking at the following deal:
Address: 4116 Jason Rd, Spring Hill, FL 34608
Asking Price: $650,000
Property Type: Multi-Family | QuadPlex
Bedrooms and Bathrooms: 8 Beds and 8 Baths | 4 Units
Square Footage: 4,644 Sqft | 4 Units
Current Monthly Rent: $5,525
"This property comprises two fantastic duplexes built in 2007, which share a lot and feature a private screened-in pool. Each unit includes 2 bedrooms, 2 bathrooms, and a single-car garage. The spacious front and backyard are surrounded by a peaceful forest, offering ultimate privacy. The roofs were updated in 2021.
All units are currently occupied on month-to-month leases, with three tenants paying $1,425 per month and one tenant paying $1,300 for handling lawn care and maintenance. According to HUD Fair Market Rental Rates for 2024, the market rent for each unit in the 34608 zip code is $1,700 per month.
While the units are in good condition, consider updating the kitchen, bathrooms, and fixtures and adding a fresh coat of paint for a fix-and-flip strategy. The pool needs draining, cleaning, and painting. For a buy-and-hold strategy, make necessary repairs and updates and either renegotiate rent with current tenants or find new ones.
No T12, as this was left to the current owner by his brother, who passed away."
My calculations bring the pre-rehabbed price per door to $162,500. What are market price per door rates (max.) that I should be aware of for when I do the refinance? Would you do this deal? Why or why not?
