Looking to evaluate 4 plex deal in Sacramento
$800000 price, 20% down. rent is 4250 and could be raised to 5200 minimum. All 2/1 units. 2beds are going from 1200-1500 per month in the area. These 4 are at 800, 1075, 1125 and 1250. Recently renovated, so no renovation costs. All estimates, but with a 3% loan, 8% vacancy, 5% repairs, 9% management, taxes, insurance, etc. At $4250 per month I'm looking at about $105 cash flow per month. With the extra rent raise it would be added on, minus the management fees.
Anything else I might be missing? This would be my second rental purchase, but first one in my local market. I would also need a partner to get the full down payment.
Thanks for the help!
Rob