Skip to content
Multi-Family and Apartment Investing

User Stats

24
Posts
5
Votes
Evan Schluederberg
  • Investor
  • Reston, VA
5
Votes |
24
Posts

How's this deal look?

Evan Schluederberg
  • Investor
  • Reston, VA
Posted Jul 10 2016, 17:30

My wife and I are looking at a 3 unit, fully-rented house in a suburban neighborhood 20 mins from downtown. The house has been completely renovated (completed in Feb/March 2016) and seems to be turn-key. It was investor owned and he is liquidating several properties at the moment. 

Here are the stats:

- 3 Units, 2 - 2BR/1BA, 1 - 1BR/1BA, All with separate meters and entrances

- Unfinished basement

- Purchase price = $162,000

- Gross monthly rent = $2,600

- Property Taxes = $4,279

- Tax assessed value = $184,000 (assessed in 2016)

This would be our first investment property.

What do you think? Good deal? Any reason to not move forward?

Thanks for the assist!

Loading replies...