Hello Everyone,
I'm new to MFH and would like to ask for help analyzing the deal below for a buy and hold.
For one I'm not absolutely sure this is all the data needed to decision on this deal, and also I'd like to know what you guys think about the 1% and 50% projections and how it compares to the actual cash flow after crunching the numbers.
Since its a VA loan this will be owner occupied for minimum 1 year, but I'd like to know the cash-flow after my move out.
Monthly Income:$3,600
Monthly Expenses:$2,886
Monthly Cash Flow: $713.72
Pro Forma Cap Rate:7.00%
NOI: $25,188
Total Cash Needed: $7,200
Cash on Cash ROI:$118.95%
Purchase Cap Rate:7.00%
PROPERTY INFORMATION 4-plex (2 bed 2 bath units)
Purchase Price:$360,000.00
Purchase Closing Costs:$7,200.00(2%)
Down payment: $0 (VA LOAN)
Loan Amount: $360,000.00
Loan Fees:$0.00
Amortized Over:30 years
Loan Interest Rate:2.300%
Monthly P&I:$1,385.28
INCOME
Total: $3,600
EXPENSES
Garbage: $40.00
Vacancy: $360.
Maintenance: $180
Cap. Ex.: $180.00
Insurance: $126.00
Property Taxes: $575.00
Mortgage Payment$1,385.28
Total: $2,886.28
Financial projections
1% rule: Slightly missed at .98%
50% rule: $414.72 remaining
