Updated almost 12 years ago on . Most recent reply
Opinions wanted
Ive found a 5-plex with all 1/1 apartments selling for $135k. The apartments rent for $350 each, which is approximately market price. I might be able to go up $25-$50 after updating. Owner pays water (about($150/ month), tenants pay all other utilities.The place is well taken care of with no obvious defects. It just needs some updating on its 25 year old carpets, etc. Taxes are $104/month, insurance approx $150/month. Cashflow looks to be about $100/door/month to me. Opinions welcomed :)
Most Popular Reply
I just ran this through my spreadsheet using your numbers where available and my experience to fill in the gaps. Even at 30 year amortization, this is a run-Bambi-run scenario. I get a negative monthly cash flow of $150-200 before dealing with any deferred maintenance issues.