New Investor needs help evaluating a deal
Hi All,
I'm looking at a single family property in southern Ohio that sits in the shadow of a manufacturing plant. I don't think there will be much appreciation due to the location. Purchase price is ~$60k. Rent is $750/month. I will have to do commercial loan because I am an independent contractor. Break down is below.
My question is: would you move forward with this property?
Purchase Price: $60K
Rent: $750/month
Mortgage including insurance and taxes: $350/month
Cash Flow: $400