Need deal feedback in Westville - am I missing something?
I've been spending a lot of time analyzing deals over the past few months and ran into a potential one on Roofstock. I realize I run the risk of notifying more people about the exact property but at this point I value the education more than the potential deal.
Both cap rate and cash-on-cash return look promising. Active tenants that pay for most utilities, recently refurbished, etc.
Some red flags from me: currently two couples living in what is technically a single family home. Without separate entrances or a party wall, I'm guessing it'll be hard to maintain this setup with future tenants.
I don't know much about Westville. When I take a look at Zillow, there seems to be a number of open listings for rent that have been sitting vacant for weeks if not months (even with lower rents than the one here). I'm assuming the area isn't a popular place for renters.
Any advice from others who know the area / have experience analyzing more deals? Is there something I'm missing or other things I should be looking into?
Jason