Would love to hear any thoughts on if this property is a good investment for cash flow. Currently purchasing a 2/2 and 3/2 duplex in Clearwater with around 800 sq ft per unit. Property will need about 20k in updates related to roof, hvac and electrical concerns. Purchase price 500k with anticipated 5k for flood insurance and 5k for standard insurance. The property is 8 min drive to the beach and walking distance to dunedin.
After running the numbers in the bigger pockets, rent estimator and Rentometer. To break even both properties would 2,200+ which may be a stretch based on the layout of the home. Also, I’m still seeing numbers where this property would be a negative cash flow or I also could be incorrectly doing the numbers.
Are there any other investors in the tampa bay region that would be able to assist with determining is worth the purchase?
