Brick duplex on a crawl space (never seen one before. seen either vinyl or wood) 2 section 8 tenants (7 yrs, 5 yrs) asking price $75k (assessed value at $29k) current rent - $1,400/month = gross - $16,800 insurance (guess) - $100/month (could be more) = $1,200 taxes - current year - $2,500 (most have been $4k) will have to use PM since it's 30 mins away - $150 per month Repairs - $100 month (average) no immediate repairs, they seem to be happy living in clutter and nicotine discolored walls according to @Joel Owens formula:gross rent - $16,800NOI = 16,800*.4 = $6,720CAP = $6820/75k (asking) = 8.96it's a C area, but not warzone. that whole town is that way. it reminds me of flint (great at one time), but without the crime.Basic formula:15 yr ammortization, 5.25% apr = ~$466,expense of P&I + PM+repairs+insurance+taxes (current) = 466+150+100+100+208 = $1,024Rent = $1400Profit = $376 = $188 per door

This means that the real association dues can be much more than the monthly dues, as there may be special assessments at year's end.

How do they come up with an assessment?

I think it is very important to understand as the appraised value maybe much different than what a realtor may value a property based on their market analysis or what the county values for their tax assessments.

I am not a writer, a poet, or a prude.Chapter One " What was I thinking" January 2014I started the process by assessing/evaluating which credit tenant I wanted to focus on, and settled with the Dollar type national credit tenants.I then looked at markets within 90 miles of Tallahassee, and studied the footprint of the three major Dollar tenants looking for gaps in the foot print and assessing why there were gaps.

Assessment was $1K this year.

In 2002, the Pennsylvania General Assembly introduced Senate Resolution 171 and House Resolution 434, which urged the Health Department to form a task force that would assess mold and the issues associated with it."

Certainly more could be said on this but hopefully that helps.In regards to rentometer, that is a great start for assessing the rental rate or range that you should be in for setting your rent amount.Best wishes!

@CK Hwang Yes this is very clearly off topic.Attempting to assess the prospects of building a business which one may inturn want to sell on to an individual who may find that they could use the business not only to achieve their real estate goals but perhaps obtain a visa for their family is very different from the regional centres who are seeking to fund their projects.So why are you recommending I seek an attorney or on what basis are do you feel you are fit to caution me when I have established that the construction industry does not fit this profile and I am proceeding to work on my own personal projects?

I agree with @Paul Timmins that getting several PM's opinions is a great way to go - especially for assessing an area for rental properties.