Updated about 6 years ago on . Most recent reply
First Duplex Down, many more to go!
Hello BP Community!
I'm so excited to say I have officially closed on my first duplex. Fully leased, only estimated expense is utilities. Everything else is approx. Rents are well below market with room for renovation and increase. Below are the details, let me know where I could have improved!
Regards,
V
| Value (appraised): | 40,000 |
| Upfront Investment (Closing/Down Payment) |
| $ (13,589.93) |
| Mortgage: |
| $ (29,250.00) |
| Unit: | Size: | Rental Income: |
| 2 | 2 bedroom, 1 Bathroom | $ 500.00 |
| 1 | 3 Bedroom, 1 Bathroom | $ 625.00 |
| Mortgage: | $ (170.70) |
| Insurance: | $ (71.92) |
| Taxes: | $ (30.03) |
| Utilities: | $ (175.00) |
| Property Management (%9) | $ (101.25) |
| Repair funds | $ (112.50) |
| CapEx | $ (112.50) |
| Vacancy (8%) | $ (90.00) |
| Total Expenses: | $ (863.90) |
| ROI: | Net Income: | $ 261.10 |
| 23.06% | Break Even / Months: | 52 |