Please Help Anaylze This Deal - Currently in Escrow
Okay, so we're in the process of completing our first 1031-exchange and we found a 4-plex property in the nicest rental area of our small college town. It's in excellent condition with a 50 year roof (28 years left) and very minimal repair needs. It also attracts very good tenants that stay for long terms. We're nervous about the purchase and afraid of buying high. This property is currently ready to close, but I'm not sure if the numbers are great. There is not much value add that can be done. Does anyone have advice on this/thoughts?
Purchase Price: $315,000
Closing Costs: $11,000
Down Payment: $78,750
Monthly P&I: $1304.58
Repairs: $150
Vacancy: $90
CapEx: $30
Garbage: $70
Water: $200
Property Taxes: $375