Updated almost 6 years ago on . Most recent reply
[Calc Review] Deal near Edgewater area
(+) - decent location. 20 blocks from up and coming area in Detroit & 65th area. Seems to be slowly spilling over with folks who might not be able to purchase house and is open to something closer. close-ish to Edgewater park which is on the up and up.
(+) - meets my criteria with cash flow and CoC. would increase both with a lower bid which is possible given comps in surrounding area
(+) - if true, sellers did recent rehab last year so less upfront cash and stress in dealing with rehab
(-) - location - I don't know area super well and things could be a miss block by block in 44102 area.
(-) - There's a risk that things might not get spilled/gentrified over so I might miss some opportunities for appreciation and would have to work with some more difficult tenants
(-) - Recently sold properties in area were all sub 60k which is somewhat concerning
What am I missing here before I dive into this more seriously?
*This link comes directly from our calculators, based on information input by the member who posted.
Most Popular Reply
Youre not factoring water/sewer which can range from $110-$200/mo depending on the tenants and your fixtures. It's not the norm to have duplex tenants paying for sewer/water since they're not separately metered.