Estimated Expenses (annual)Real Estate Taxes (estimated 4% purchase price)Property Insurance (estimate 0.75% purchase price)Property Management (11% rental income) Repairs & Maintenance (10% rental income) Utilities ($75 water / month / unit + $25 trash)Lawn care (estimated $100 / month x 6 months)Snow plow small driveway / parking  (estimate $100 / month x 3 months) Capital expenditures (10% potential rental income)

We had to kick back an additional $900 for some repairs that we were not able to address because of a snow covered roof all winter long.After all other fees and holding costs we made a profit of $45,000.The total amount of cash that was required for this deal was $20K.

Operating expenses - lawn, snow, repairs/replace for bulbs, detectors, window/screen, paint...etc3.

Income:Rent = $3570/mo (from the owner)Laundry = $40/mo (my estimate)Total Income = $3610/moExpenses:Operation = $1017/mo (Vacancy 5%, Maintenance 5%, PM 10%, CapEx $295/mo)Fixed = $1047/mo (Taxes $8300/yr, Insurance $2000/yr, Utilities $134/mo, Lawn/Snow $60/mo)Total Expenses = $2064/moNOI = $1505/moCapEx is based on my spreadsheet adding roof, paint, HVAC, water heaters, etc, taking into account the estimated life span and replacement cost of each.  

I have not met the other owner but since the HOA is not properly setup and there has been conflict in the past I also fear an on-going problem with the over all property maintenance (landscaping, snow removal, etc.)thanks, Frank  

Between taxes, repairs, snow/lawn care PM, closing costs,  what's the best way to estimate your operating expenses? 

Hello -  I would like to ask investors in New Jersey (or anywhere) about expenses to consider when you are analyzing a multifamily property to househack- snow removal, lawn maintenance, etc.  

I have seen prices here in the Valley go up very quickly, last year SFR's were at high 300's, now its at mid 500's, same prices where it was in 2006-2007. 

I think people assume it's either a cow town or a snow-filled mess for six months of the year.

Outdoor maintenance - who's taking care of the lawn, snow-shoveling, gutters?