Seasoned members. I need your help to analyze this deal
Hello all.
This is my first house. I read all the articles here and try to find properties close to it. Is this a good one?
2600 sqft double in buffalo ny
135,000
6 beds 2 bath (3/1 per unit)
Rents for 750 a month per unit.
2800 taxes
2 car garage. Good shape
All updated windows
Hard wood floors throughout. Need some minor refinishing
Furnace and water tanks all replaced in the last 3 years.
Stair case to the attic need some dry wall work.
New Ac upstairs unit
I'm thinking 2000 to refinish the floor and repair the wall. Then I can repaint myself. It should cash flow 3000-3500 a year if I do all of the management myself.
It follows the 50 percent rule, but doesn't even come close to the 2 percent rule. What do you guys think?