Is this a good deal? Cash on Cash Rate? Annualized Total Return
Hi Newbie Here
Considering purchasing a 3br 2 bath (1136 sq feet) to rent in the Texas area (rural area near Beaumont, TX)
Price = $59900
Down Payment = 10% (through finance company listing it for sale)
Interest rate = 6% (through the finance company listing it for sale)
No closing costs
Property Tax = $986/year
Mgmt Fee = 10% of rent
Home Insurance = $1100/year
We would rent the house for $900 to $1000/month
This would be our first investment property. House is in good condition. No major repairs needed.
Is this a good deal?