Updated 7 days ago on . Most recent reply
30 Door Multi-Family Break-Down - Is this a good deal?
Looking to buy our first multi-family deal. I own a commercial construction company so can do the rehab in-house. Here's the breakdown. Trying to see what I'm missing here.
|
Category |
Amount |
|
Purchase Price |
$550,000 |
|
Rehab Budget |
$185,000 |
|
Closing Costs |
$17,000 |
|
Total Project Cost |
$752,000 |
|
Effective Gross Income |
$168,120 |
|
Operating Expenses |
($60,000) |
|
NOI |
$108,120 |
|
Debt Service |
($48,852) |
|
Annual Cash Flow |
$59,268 |
|
Monthly Cash Flow |
$4,939 |
|
Cap Rate (on cost) |
14.4% |
|
DSCR |
2.21 |
|
Cash-on-Cash Return |
31.8% |