Single family investment
Hoping to get some feedback in regards to cash on cash and cap rate for a single family investment property I'm looking to purchase. Purchase price of 215K (Currently worth about 230-235K). Total Cash investment is $63,750 (25% down and 10K costs/repairs). Annual Gross Rents is $19,200, Annual Expense is $8750 = NOI is $10,450. Annual debt service is $8689 (3.5%-30 year ($724 P&I). Cash Flow Annually=$1761 There is definitely an opportunity to increase rents by $200/month and the house is in a highly desirable area and I own the property next door as an investment. Current cash on cash is 2.76% and cap rate is 4.86%. Thoughts?