Analyze 3/1 SFR
What is your max offer price on:
3BR/1BA, 1,000+ sq ft, 35 yrs old SFR, all electric, central air, all brick SFR.
Area rent: $625/mo. Could maybe get $650.
Area rank: "C" class neighborhood. Located on the border of low-income/section 8 multi-family properties and low-to-mid income SFRs, mostly owner occupied.
Financing: 20% down, 30 yr fixed, 5% (or lower) interest rate.
Expenses:
Prop Mgmt (@10%): $63/mo
Vacancy Loss (@10%): $63/mo
Repairs (@10%): $63/mo
Cap-Ex (@10%): $63/mo
Taxes: $76/mo (at highest, based upon current PVA assessment, which is way high)
Insurance: $75/mo guesstimate
Total Expenses: $403
Property would need $3,000-$5,000 to get rent ready, including appliances.