Price : $100,000, 4126 Laverne St, Oklahoma City, OK 73135, seems like good condition throughout.
3Bed/1Bath
750sqft
Schools are mostly 2/10
Average rent for the zipcode is $950
What do you guys think about this deal?
@Ming Huang Based on the numbers you've shared, I would advise against the deal, unless you can negotiate the purchase price down and/or rent it for at least $1,150. The FMR in that zip code for 3 BR units is $1,590.
Price : $100,000, 4126 Laverne St, Oklahoma City, OK 73135, seems like good condition throughout.
3Bed/1Bath
750sqft
Schools are mostly 2/10
Average rent for the zipcode is $950
What do you guys think about this deal?
@Ming Huang Based on the numbers you've shared, I would advise against the deal, unless you can negotiate the purchase price down and/or rent it for at least $1,150. The FMR in that zip code for 3 BR units is $1,590.
I'm not familiar with your market, but here are some thoughts:
750 Sq ft is small for a 3/1.
Interior looks like a flip but it seems like it has been owned by the sellers for a long time...so maybe not.
They have been trying to sell this property for 6 months and have reduced price.
I dont hate this property. Small is easy to maintain as long as renovations were done correctly. Everything looks rent ready.
House Canary is showing rent at 1100-1150. Did you run a DSCR calculation to determine cashflow? Seems like a property that isn't going to appreciate rapidly so cashflow will be vital to its investment potential.
Oakland, CA · Member since 2012 · 11 posts · 2 votes
1y
Yea the area doesn't look like it will appreciate much, I mainly look for cash flow. If I put 50k down I should be able to cash flow around 400 a month. Number looks good enough to me but I just worry about the location tbh.