To me it doesn't seem like a good deal if you're going to spend $350,000 on a home and only gross $3100 monthly.

So that's $1450 per month or $17,400 per year gross scheduled income.

But is 3x rent gross income standard.

.$19,800 x 2 buildings = 39,600 Total Gross RentThe seller in coming up with their asking price has used total gross rent instead of NOI in there calculation to determine their asking price!

Total gross monthly rent is $7,288.

This passive loss allowance is phased out if your modified adjusted gross income is above $100K and disappears completely at $150K and above.

Is it wishful thinking to expect a good investment to cash flow 1/3 of gross rents to fully cover a 2 unit vacancy should that ever happen?

If I buy I plan on renting this side out for that amount which would bring the gross income to $2,050 a month.

Below are the vitals, would appreciate any thoughts.Purchase Price: $2,350,000+/-Units: 170 (All 1000 SF 1/2/3 BR)Current Monthly Rent: $76,500/mo Annual Rent: $918,000 Vacancy: 33%Effective Gross Income: $605,880Taxes: $21,000Insurance: $15,000Management: 5% (will be partially self managed) $30000Utilities: $6,000 (only common area electric and electric heat, all other separately metered)Repairs/Maint.: $50000 (I own a construction company)Marketing/Promotion: $1,500Trash: $3,000Supplies: $5,000Water Testing: $3,000Misc: $1,000Total Expenses: $145,000NOI: $460,880Cap Rate: ~18%Property is in overall good condition but could use some upgrading.

What do investors in Bridgeport target for first year gross rent multiple (GRM)?