Updated almost 2 years ago on . Most recent reply
1st Deal Analysis, Help needed
3 duplexes (3/2) on 5 acres. Average Rent currently is 1200/mo each (7200/mo). Average rent for 3/2 in the area is 1600/mo (9600/mo). Asking price $1,250,000. I can get 30y just under 8% currently from my local bank (7,300/mo mortgage for $1 mil). Based on current rent not potential rent max price should be 900k to be able to cash flow property. Am I thinking about this correctly?