(light switch to bathroom is outside of the bathroom door entry19) new backyard fencing20) clean out storage21) some parts of the roof does not have a gutter... needs additional gutters22) pressure wash roof and patch up in a few areas...a lot of work eh?

Hi guys I'm considering this one.Area is safe. 15 units, 2br each 800 sq ft, 1 bathRents 600 eachcoin laundry in basement.All updates are done.

It has additional value if it is perceived as adding value in the eyes of typical prospective tenants.While dishwashers and laundry equipment certainly add value, you really need to think these through.

Again I need measurements, but it’s larger than most 300K new homes and has more custom cabinet space for sure.The laundry room is also on the main level.

At 8.5% I drop my monthly to a $215 mortgage payment but I pick up the $61 a month tax bill and another $40 a month for insurance, so it's a wash as a self-liquidating asset with maybe $100/month positive cash flow.Best case scenario is I get $5K for about 2 hours worth of real work.So-So scenario is that I get $14K in a year after some work screening and placing a solid lease-option tenant/buyer.

& Laundry Inc.: 3,000Gross Operating Income: $ 166,159Expenses:Administrative: Expenses Per unit % of ExpManagement Fee 4% $ 6,646 $ 266 9.15%Maintenance:Trash, Lawn & Snow $ 1,000 $ 40 1.38%Repair & Maintenance $ 10,000 $ 400 13.77%Utilities:Electric, Gas, Water $ 14,000 $ 560 19.27%Fixed:Insurance $ 6,000 $ 240 8.26%Replacement For Reserve $200 $ 5,000 $ 200 6.88%Tax (Real Estate) $ 30,000 $ 1,200 41.30%Total Operating Expense: ($72,646) ($2,906)Net Operating Income: $ 93,513The asking price is $1Mil (seller financing)What should be my max offer or terms?

Rent: $0Can add laundry for additional income, rents can go up 10%What's the consensus?

It does vary from market to market, though, as a dry cleaner, fitness center and pool, in unit laundry machines in a high rise downtown Chicago building are a necessity to think about being called an A building, but in Little Rock, Arkansas (wherever that is!)

:cry: Sad to see the investor's dreams washed down the drain.

Both units have separate entrances, laundry hook-ups, separately metered.