Average Cashflow per unit Newark NJ

11 Replies

Hi BiggerPockets Fam!

What would you all say is the average cashflow per unit in Newark New Jersey? My first buy and hold property is cash flowing around $210 per unit after accounting for vacancy, repairs, and CapEx. My initial goal was to get $300 per unit moving forward, but the numbers seems to be leading me back to around $200. Please share your thoughts. Thanks!

Does that include debt service? The best way to evaluate how your doing is cash on cash return so the answer to that really depends on how much cash you have in the deal.

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I do a bit better than that bit i suppose but it varies depending o nthe neighborhood and unit size. Mine are mostly 2-3 beds and in the North ward

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I’m very interested in getting MF’s in Newark since it does seem in high demand. Can you guys recommend which parts of Newark are best suited for buy and holds, ie, low taxes, and not a “war zone”. It’s no offense to anybody living in Newark, I just know not all parts of Newark are ideal. Who better to ask than those that actually invest there. Thanks

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Obviously this is heavily dependent on your debt service, but I aim to be at 200 per unit after all expenses including reserves for capex, vacancy, repairs, ECT

When there are no vacancies and no major repairs cash flow is higher, but an eviction can wipe our your cashflow quickly on smaller buildings, and typically the winter is the most expensive time as there seems to be way more repairs and issues related to heat season 

Are there any REI meetings or groups in Newark

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