Built in 2002, it is a fully rented four plex (one unit is month-to-month so we would move in there).Current asking price: $495,000 (though originally listed at 474k, he upped the price after 16 days)Days on Zillow Market: Over 100Reason for Selling: To either purchase a SFH for himself and his GF or buy a commercial property, possibly storage unitsRents: 4,400 monthly (Owner said 2 units could be easily increased by $50 to $75 each)Expenses (annual)Property Taxes (assessed 2014): 7,754Insurance: 3,000 (guess)Maintenance & Repairs: 4,200 (guess)Utilities: 4,500 (average for last 18 months from water company, owner currently pays water/sewer/trash but there are separate water meters so we would look into passing this to the tenants as the leases expire)Advertising: $150 (only advertising is for new tenants when leases expire)Administrative/Misc Costs: $150Mortgage Insurance: $6,501 (from mortgage broker at 490k loan level)Snow Removal: $1,500 (as acountants, our busy season is during the winter and we don't have the time or patience to deal with this, there is a sidewalk + steps + driveway and back parking area to be plowed)Lawn Care: $150 (supplies fund, we will mow it ourself, first year expense of a lawnmower not included)Mortgage: 26,579 (FHA, 3.5% down, 3.75%)At 495kAnnual cash flow: $-1,684CoC: -9.72%NOI: 24,895Total ROI: 40.89%At 450k (keeping mortgage insurance at 490k loan level b/c I don't have other numbers)Annual cash flow: 762CoC: 4.84%NOI: 24,895Total ROI: 55.54%As it stands, my numbers are telling me this deal will not work, given the $100/mo/unit minimum standard most people are looking for here.This is the first deal that I have really looked at though as seriously buying, so I would love other people's opinions on my analysis.

No.Patios/Sidewalks/Site Conditions/Minor-Landscaping?

Hi,I'm looking to repair or replace a driveway and some sidewalk blocks in University Heights. 

A few definitions to know in this domain of land development:Raw or unfinished lot cost = raw land prices divided by number of lots derived from land planning actions Finish lot cost = the cost of the land, development impact fees related to land, and common infrastructure (i.e. streets, sidewalks, parks, schools, etc)Residual land value (RLV) = analysis of home prices less all cost to complete and what remains is what a builder can pay for land.

There are many other costs such as sidewalk fees, trash, permitting, tap plans, architectural fees, surveys, landscaping, toilet rental silt fence, site work etc..

First, I'm looking for someone willing and able to remove sections of the sidewalk, remove the stumps affecting the sidewalk and then replace the sidewalk.

How about pressure washing the sidewalk to emphasize that it is the path to the front door?  

Hi Cortney,  It is in the process of being subdivided, but we'll have to add sewer and do a few other required improvements, like sidewalks along one end of the property.

The people who saw it mentioned that the neighbor has his gutters pointing  towards my building and also the sidewalks around my building are directing the water towards the foundation and therefore the water issues with the ground unit. 

Seems I'll need a bit more revenue out of anything within city limits to account for the extra taxes, and need to figure out exactly what the HOA fees cover.Also, I'm wondering if my maintenance/capex estimate can be a bit lower on TH and condos since there's less to break/wear than a SFH (ie, fewer windows, less in the way of sidewalks/driveway/yard, no roof cost if it's a condo where the HOA covers it, etc).