11 Unit Duplex Purchase Analysis
I am under contract to purchase 11 duplexes and have a 10 day DD period. Although I have scrutinized the numbers I would appreciate the feedback of the BP community:
Details - $1,034,000 purchase
$94,000 per unit
$1200 month rental with a 10% vacancy rate over the past 3 years
Total Annual rent - $145,000 net of vacancy
Expenses:
Payment - $4454 x 12 = $53,448 - 30 year amortization w 15% down - approved w local bank
Annual taxes - $10,000
Annual Insurance - $8000
Annual Maintenance - $26,400 -
Mgmt Fee - $10150
Total Expenses - $107,998
New Roofs in 2014
All inspections of HVAC being completed next week
I sincerely appreciate the informed analysis of this deal. Please let me know if there is any additional information needed.