Updated almost 7 years ago on . Most recent reply
Should I consider buying it as a rental property?
I'm looking to buy a rental property. I have a few potential leads but I feel like the price is too high and margins too low.
The property I'm considering has:
Price: $190 K (negotiable);
Sqft: 1742
Garage: Yes
HOA fee: $280 per month
Tax: $3748
Type: Townhouse
Rent: $1650
If I get it for $180 K and put a down payment of $85 K, my payments will be around $1215 per month. Which leaves me only $435. Would it make sense to invest in this property or I should continue looking? What are the good margins?