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Updated almost 4 years ago on .

User Stats

5
Posts
7
Votes
Jay Macarus
  • New to Real Estate
  • Cincinnati Ohio
7
Votes |
5
Posts

[Calc Review] Considering a 4 unit as my entry point

Jay Macarus
  • New to Real Estate
  • Cincinnati Ohio
Posted

Hello! Id love to gather an outside opinion on a deal I am currently reviewing. Based on my plan requirement of location, positive month return, and house hacking strategy, this property came up but I am curious if the numbers add up or if I am considering this incorrectly. 

As seen in the report, I am charging utility outside of water and garbage to the tenants and about a 7% average for vacancy, maintenance and cap X with a 25 allocation each month as extra. This comes to 11.8 CoC return which seems good, but I wanted to make sure. (Report linked below)

View report

Separately, this property has four built in garage spaces in the back basement. Dose anyone have experience potentially charging to rent these spaces out since they are covered spots within the property and not just a lot on the back? I am just trying to explore alternative avenues of income and have not heard much about something like this. 

Thanks always

- Jay M.