What do you think of this deal ?
So I just purchased a deal and closed this week . The new property is a duplex . I have not targeted duplexes because I have focusing on targeting larger units however, this deal was put in front of me and it seemed to good to be true ! What do you think? Here are the details .
Duplex
Purchase price : $32,0000
Annual taxes: $2200
I was able to use leverage on this property so...
$12200k down
$325 a month mortgage with escrowed taxes and insurance .
House is actually In excellent condition with new windows roof and siding . Some of the appliances are older but I'm not overall concerned about problems in the near future .
We do pay water in my area usually it's about 200 per unit per year
The utilities are separate tenant pays .
We have in-house management for our properties so total cost on that is around $100.00 a month and no other property management fees . This does not include supplies obviously .
I know what I have it calculated cash flowing but I wanted to see what you guys come up with ! I am newer to the forum and I am thinking this cash flows pretty well for a leveraged duplex . Let me know what you all think or if you have any other questions about the numbers !