Updated over 9 years ago on . Most recent reply
Opinions on this deal
Ok here is a deal my wife and I are looking at. My wife is really wanting it due to location. Listed at 99900 duplex. Rent for area low, it's at 650 per unit. So 1300 a month. Should be 750-850
Offer 80k settle maybe on 85k
Mortgage, taxes, insurance, 680.00 per month.
Water, garbage, sewer is approx 80.00
I put vacancy at 5% 65.00
Maintenance 10% 130.00
Cap ex 10% 130.
Which gives me expense of 1085.00 which leaves me a ROI of 215 at the current rental rate. Correct me if I am wrong or missed something.
Obliviously when we raise would give us additional income.
Any opinions or corrections would be appreciated