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Updated almost 10 years ago on . Most recent reply

Account Closed
  • Belleville, IL
3
Votes |
7
Posts

Help me analize a deal

Account Closed
  • Belleville, IL
Posted

I found this on the MLS, agent owned. I called and spoke to her for a while and got the following. She told me the PM company can get me the financials this week. My questions: What else do I need to ask? is this a good deal with the info that I have right now?

New roof and decking in 2013, 4 of 6 have been completely remodeled, other two updated per pictures and listing.

6 unit apartment building. 245,000 list.

2 1BR 475/mo

4 2BR 780/mo

3450 total income a month

Management in place at 6%

4000/yr property taxes

electric paid by tenents

water/sewer/trash 300/mo

Tenents on 1 year leases, fully rented, two long term tenents on month to month due to relationship with seller/PM

Its a decent B class area.

local cap around 8 from what I can ascertain.

At an 8 cap i see it valued around 220000. Tear me apart.

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