Updated almost 10 years ago on .
Feedback requested
So I have two properties that I came across and would like some input. I have not yet looked at both proprieties, however property 2 I have a viewing today. Will try to setup viewing for property 1 today if possible. Thanks for all input.
Property 1.
- $30K list price plus closing costs
- Title search already complete
- 2 bedroom 2 bath
- Vacant
- Rental rate is $700/month
- Taxes: $519.89/year
- HOA is $183/month
- Buy and Hold:
- $1000 in repairs (clean and paint)
- $275/month Net Operating Income
- 11% Cap Rate
Property 2
24,900/price
2 bedroom 2 bath
deck/ balcony
vacant
rental $600-$700
HOA: $238
TAXES: ?
Needs TLC such as cleanup and paint
2 bedroom 2 bath, balcony off of family room and master bedroom. Fireplace in family room. Split bedroom floor plan.