Property Analysis in East Vancouver, WA

2 Replies

I'm looking at a fourplex in Vancouver. They are asking $580,000. Gross monthly rents are $4,175. Property is in good shape, and it's in a desirable neighborhood. My goal is to invest in positive cash flowing properties. I will be house hacking this with a FHA loan @ 3.5% down. I have $30k in cash, so I can't put much down. I am using a modified 50% rule to quickly analyze deals as properties in the Portland Metro area don't seem to apply to the 50% rule, so I adjusted it to 35%-40%. So at 35% is barely cash flows, less than $200. Looking for some input from some other investors on whether I should pass and look for better deal. It would be more enticing if it were closer to $400. Thank you.

Eric not a bad deal for the Vancouver market.  I assume you will live in one unit and rent the other 3 units out?  I have a day job in Portland but would love to meet up for coffee in Vancouver and go over the numbers in person.  I currently have a few rental properties in Vancouver and am always looking at the market to see what is out there.  Sounds like you are a numbers guy and you have a good handle on using calculators but remember every market is different and if you are waiting for the perfect deal you might never buy.   Good luck!