Is this rental property worth investing ? I'm new
Found a property in Sparks NV. Desirable neighborhood with job growth. Decent school. 1376 SF built in 1986, 3 bed 2 bath 2 car garage for $315,000. 20% down $63,000. PITI $1,458 rent $1695 = $237/month. Cost of property manager $847.50/year just to get tenants in.
6 months old roof, vinyl plank waterproof floor, 4 years old blind. I do not anticipate any major repair. This will be my first rental. How do you do the math to see if this property is worth investing ?
Most Popular Reply
When you add cap ex and vacancy and insurance costs it doesn't look like it will cash flow. You can use the BP rental calculator or use the quick rules of thumb - the 1% rule or the 50% rule.