4 Plex Worth It?
Hello,
I own 3 student rentals and have since decided to pursue another avenue in investing. I am considering putting in an offer on a 4-plex. I realize the numbers don't appear to be as rewarding as student rentals, but is it worth it?
Purchase Price: 380,000
Gross monthly income: 2,700
Utilities: Tenants Pay
Property Taxes: 400 a month
Insurance: 160 a month
Downpayment- 20% (76,000)
Closing Costs- 2,500
The apartment is in a good location close to my principle residence, but do the numbers work well, or are they too low?