I'm hoping for some advice on a deal I found.
Purchase price is 140,000 for a four flex with monthly rental income at 3545. So CoC and ROI is pretty great (about 1100 a month after vacancies, maintenance, etc.) Apparently the sellers are motivated so I could probably get it under asking as well.
The only downfall is it's in a small town of 6,000 people. So in my opinion might cause a headache trying to find new tenants. Doesn't seem like there's much population growth. Average vacancy rate that I found is about 6.7 - 8.3 which is a lot higher than I'd typically go for. But again, return looks great, IF it can be rented steadily.
It does have about 2 dozen colleges/universities within a short drive. Top jobs are Health care, casino, education, grocery, manufacturing.
Would you purchase this deal?