Investor · Phoenix, AZ · Member since 2018 · 420 posts · 388 votes
I have 2 SFR’s under my belt in the North Phoenix/Scottsdale area. I’m looking to make a move toward house hacking a 4plex in the Phoenix area. What kind of metrics should I be using to compare opportunities? Cap rates are all over the place and I’d love some pointers on things to avoid!! Please help!
Rental Property Investor · Phoenix Tempe Scottsdale, AZ · Member since 2014 · 184 posts · 55 votes
7y
When you run rental comps on multi family check for
-Comps offering lower security deposits
-what utilities are generally included in the area
-if comps are offering in unit laundry (this can warrant up to $100 more rent per month)
-If they comps are offering onsite or no laundry
-How long ads are up to gauge vacancy times
Most 4 plexes have combined water sewer, trash, and separate meter but always confirm they are separately metered. Check on the condition of all HVAC units.