Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?

If your comps and repairs are accurate, I would say that its a good deal.

I have been doing foreclosure repairs for an investment company for the past 3 years.

It's nice because you can see what the numbers look like using different assumptions about repairs, maint., vacancy, etc.

Just figure 70% of FMV after repairs.

Great blog,It looks like you have a good plan and you know what your doing.Great idea creating a blog for the project and repair. 8) Welcome to the Forum.Les

Repairs Needed: $100,000APV: $610 - 620,000Est.

Now I only contact the listing agent, and every time I hear "oh I work with investors all the time let me send you some listings" I tell them thats great and also included a list of repairs needed on the property and an ARV. long story short I never hear back from them.

Cheap to replace and makes a world of differenceExterior repairs.

Can someone please explain the 70% of ARV minus repairs formula?