Deal or No Deal Multi Family

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Deal or No Deal Multi Family

Patrick Hill
Wholesaler · Stamford, CT · Member since 2011 · 19 posts · 0 votes

6 Unit Multi Family   Listing Price $284,999   

Pro Forma 

Annual Income $51,000

Utilities $3500

Taxes $5811

Working the numbers with 20% down payment ($57,000)

Private Investor $57,000 @ 6% = $3420 annual  or $285 monthly simple interest 

Commercial Loan $228,000 @ 8% = $2091.23 monthly mortgage 

Debt Service = $ 2376.23 Monthly 

Income $51,000 or $4250.00 Monthly 

-775.00 Taxes and utilities 

NOI $3475 - $2376.23= $1098.77

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  • Rob WinterPro Member
    Real Estate Investor · Norwalk, CT · Member since 2016 · 13 posts · 2 votes
    9y

    Hi Patrick. Based on the pro forma it seems like a good deal. The cash on cash return is about 23%, but the expenses are sure to be higher than $9,311 / year. What about sewer, garbage, Mgmt, etc. and there's sure to be some repairs.

    Any chance to get the rents in 3 of those 3 BRs up to $950 to match the 4th one?

    Best of luck!

    Rob

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  • Patrick Hill
    OP
    Wholesaler · Stamford, CT · Member since 2011 · 19 posts · 0 votes
    9y

    Hey Rob, thanks. 

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