Evaluate this Deal Please
I have an offer accepted on a property that is 2 three bedroom duplexes, and 10 garages. The price is $53k.
I estimate approx $20k to fix it up (roofing, plumbing, some electric).
Garages are all rented out for approx. $360 for all of them (I can ultimately get $40 a month easily for each garage unit). 2 of the duplexes are rented $450 / month and $475 a month.
The other duplex once fixed will rent conservatively for $450 a month each.
Income: $2225
Expenses: $1112.5
Mortgage: $488.44
Cashflow: $624.06