Rental Property Investor · Indianapolis, IN · Member since 2019 · 25 posts · 6 votes
I would like to get you guys help analyzing this property, in case am missing something, it's 4 plex 2 2 bed 1 bad and 2 1 bed 1 bad purchase price $225,000 , NOI $2600 , separate meter ( tenants pay utilities) needs like 4K on minor repairs, I believe 3 of the 4 units are rented , has a 3 car garage.. I used the rental property cal but it won't let me shared the number but it looks like this
Monthly cash flow $554
Income $2600
Expenses $2,045
Coc ROI 13.85%
That’s put in in account for
10% property manager, 10% capex , 10% vacancy, 147 dlrs a m for tax and 50 a mont repairs , on 20 % down conventional loan, one thing I couldn’t add was the 4K the need in repairs.the number are based on a 20% down 30 yrs mortgage and 3% interés .. I will be contacting the listing agent tomorrow I count get a hold a her today and get more info
Rental Property Investor · San Francisco, CA · Member since 2020 · 27 posts · 12 votes
5y
@Alexis Ayala
Have you add the insurance yet? Also, for the maintenance $50/months seems a little too low in my opinion. I usually put aside 5-10% for maintenance depending on the age and condition of the property. For tax, I would also set aside a little higher. IN has the cap at 2% for non owner occupied.
Will you be using this as owner occupied? For non owner occupied, lender usually asked for 25% down payment.
Rental Property Investor · Indianapolis, IN · Member since 2019 · 25 posts · 6 votes
5y
@Vinnia Tjhin thank you ! I will be double checking the number and I will be taking the in account for the insurance and the maintenance, and I was looking at the numbers for both owner occupied vs a none owner occupied and see which one would make more sense . Thank you once again!
Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
5y
@Alexis Ayala A lot of this will come down to the returns you are expecting and what you want. There are a lot of things to consider when buying but I wouldn’t over think it. There are a lot of variables but I would check with a PM in the area also.