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Multi-Family and Apartment Investing

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Ahmad D.
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22
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Analyzing my first fourplex

Ahmad D.
Posted Feb 21 2020, 19:33

Hey all, I'm analyzing a fourplex deal and wanted your input. I understand the numbers don't look great, I just want to know if I'm being too conservative in my estimates (especially on the turncosts, capex, maintenance)

Note this analysis assumes a cash purchase.

Property InfoMyFourPlex
OccupancyOccupied
Size2000 sqft | 1 bd apt homes
Year built1960's
NeighborhoodClass C
Sale Price (USD)165,000.00
Closing Costs1,200.00
Rehab + Repair2,000.00
Total Capital168,200.00
Rent
Monthly Rent (4 units)1,935.00
Vacancy Rate0.09
Annual Gross Rent21,130.20
Annualized Expenses
Property Taxes2,100.00
Property
Management Fees (10%)
2,322.00
Leasing Fees245.00
Property Insurance2,200.00
HOA0.00
Repair/Maintenence1,400.00
Utilities (Lawn, Trash)1,600.00
Annual Turncost
(Property management fee
+ 1000/apartment)
5,935.00
Total Operating Expenses15,802.00
Income
Net Operating Income5,328.20
CapEx Reserves1,600.00
Total Net Cash Flow3,728.20
CapRate3.23
Cash-on-Cash (post reserves)2.22

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