$1,700 sounds low for lawn and snow.

.: $1,800Repairs(Not Much Needed): $3,200Utilities(Water, Common areas electric): $1,500Maintenance(5%): $1620Lawn/Snow Removal: $1200Total Operating Expenses: $12,520Net Operating Income: $17,180Annual Debt Service: $9155Cash Flow: $8025Cap Rate: 9%CCR: 16%Am I missing anything?

They could move out before winter and all the pre payed snow removal reduction was for nothing.

The lowest price is around $225K(201 Snow Camp Dr, Cary NC: 3beds/2.5bath 1600sq ft) for 20 yrs old house.

By keeping bills relatively low, we don't have to worry as much about falling behind when we have a spell of rain or snow that causes him to not get his normal amount of hours.

The hot attic melts the snow and it runs down over the cool eves and freezes.

It is a duplex built in 1960 in Westchester County, NY and is a short sale.Listing price: $189,0002br/1bt: $1500, 1br/1bt: $1200Skin in the game (20% down, closing, repairs): $53,606Income - $29,808Gross Income: $32,400Less 8% Vacancy: $2,592Gross Operating: $29,808Expenses - $14,916Tax: $7,407Homeowners: $827Repairs (8%): $2592Heating: TenantElectricity: TenantWater: Not sureTrash: Not sureLawn/Snow: Not surePest: Not sureManagement (12%): $3,888Capex (5%): $1,620AnalysisIncome: $29,808Expenses: $15,564NOI: $14,244Debt service: $8,832Cash flow: $3,792Per month: $316Cap rate: 7.54%CoC: 7.07%I am not sure about the utilities.

@Walter Pape I think honestly becausr of all of the snow birds and retiries we have in the state.

The property is still listed (red flag) and I am revisiting this opportunity.Asking Price: $260,000Apartments: 9 Units (Fully rented, average rent is approximately $370/mo per unit ... total $3330)Restaurant Space: 1566 Sq Ft (Currently rented for $1000/mo)Retail Space: 756 Sq Ft (Currently rented for $500/mo)Total Gross Revenue: $4830/mo ... annual $57,960Expenses:Taxes - $6098 (2.345% of Purchase Price)Insurance - $1800 (Estimation)Maintenance/Repairs (5% of PP) - $13000Property Management (10%) - $5796Vacancy (10%) - $6166 (10% + 1st month rent for vacancy)Miscellaneous (Garbage, Pest, Snow Removal) - $1200Water - $1500Mortgage (4.00%, 20-Yr Am, 20% DP) - $15120Total Expense - $50,680Free Cash Flow/Mo - $606 ($7274 annual) ...$67 per door.Debt Coverage - 1.481 or 2% Rule - 1.86%50% Rule - 61.35% (Allocation to repairs is heavily conservative.)ROI - 8.62%CAC - 13.99%Vacancy for the apartments are near 0%.  

.$2,563 Insurance$3,016 Water/Gas/Electric$1,968 Trash$500 Snow and Lawn$2,400 Maintenance and repairs$26,951 Total Expenses$20,309 NOII offered $201,000 on the property and the seller has indicated $220,000 as his lowest acceptable price.