Am I analyzing numbers correctly?
Hello, I'm new to the community and trying to learn to ropes. I'm working on analyzing numbers and came across this multifamily building. I'd very much appreciate some feedback on what I've found. Can anyone please point out what I'm missing in my calculations or if I'm on the right track?
If I take a 30 yr loan for $1,679,000 with 4% interest, my mortgage would be approximately $4,850/month.
Total current income from the 4 units is $8,795.
Monthly estimated expenses is $3,060.
Mortgage $4,850 + Expenses $3,060 = $7,910
Income $8,795 - Mortgage/Expenses $7,910 = $885
So this would be putting about $885 in my pocket each month.