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Updated almost 2 years ago on . Most recent reply

User Stats

28
Posts
19
Votes
TJ Woolum
  • Investor
  • Chatham, IL
19
Votes |
28
Posts

Is this a deal?

TJ Woolum
  • Investor
  • Chatham, IL
Posted

Hello,

I am new to the multifamily arena and need help analyzing this deal.  Any thoughts?

Quadraplex

3 units recently renovated and rented at $1,200/mo

1 unit unrenovated and rented at $750/mo

NOI: $35,000

Listed Price:  $449,000

15% down on a 5 year balloon, amortized over 30 years:  $2,475/mo

With these numbers, I project the monthly cashflow to be $173/mo.  And that is if I manage the property myself.  What do you guys think my asking price should be?  How do you evaluate your deals?

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