Would You Buy it?
Great area - here are my numbers:
| Monthly | Annual | |||
| Purchase Price | 168,500 | Monthly Rent | 2200 | |
| Cash to Close (20% + $4k close costs) | 33,700 | Annual Rent | 26400 | |
| Property Tax | $375 | $4,500 | ||
| Insurance | 100 | 1200 | ||
| Mortgage | 835 | 10020 | ||
| Vacancy (5%) | 110 | 1320 | ||
| Repairs (5%) | 110 | 1320 | ||
| Total Expenses | $1,530 | $18,360 | ||
| Net Income | $670 | $8,040 | ||
| Net Income without Mortgage | $1,505 | $18,060 | ||
| Cap Rate | 5% | |||
| Cash on Cash | 24% |