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Jasper Son
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Question on analysis

Jasper Son
Posted Nov 14 2021, 18:30

Hi, 

My name is Jasper Son and I live in brooklyn, new york. I am looking to invest in Rochester, NY and I would love some feedback on my current progress. 

Using Listsource I determined that the zip code area 14609, 14624, and 14612 had the most absentee owners within the past six months. To start out, I am analyzing these areas for property analysis. 

One of the properties that came up recently on Redfin was 740 Grand Ave, Rochester NY 14609. The place is a SFR 3 bed 1.5 bath, 1312 sqft, built in 1920. Using rentometer, I took the average rent, 1435, for my analysis. Using the BP rental calculator, I have determined that I had to offer 92,000 on a house that was listed for 135,000 for the property to cash flow $150 with a CoC return of 8.84%.

I assumed 9% for repair & CapEx, 5% Vacancy, 10% Property Management fees.

I let the tenants take care of the electric, gas, and lawn & snow care. Assumed 100$/month for Water & Sewer and 50 for garbage.

Does that sound right? 

Additional question: What bills are the landlords usually responsible especially for SFR in Rochester?

Would love the feedback. Thank you! 

 

Rochester, Minnesota

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