Property Valuation - Opinions Wanted!
Hi everyone,
Rookie here looking to dive in and wanted some feedback i am evaluating a property in a college town in TX. It’s in a desirable area with a ton of amenities for students, so I believe finding tenants will be feasible.
Numbers:
Selling for $210,000
Down payment of 10% ($21,000)
Mortgage rate: 3%
HOA of $175/month
Currently renting for $1,725/month, rented through July of 2021, and already pre-rented for the following year at the same rate.
Property taxes were $4,000 in 2020
Curious what I should be thinking about, and what math experienced investors are doing to determine the feasibility and profitability of such an investment.
Thanks so much. If there are any additional qualifying questions, please ask. I have a .pdf with the projects “assumptions” but understand this is sales material and I should form my own opinion.