Updated 2 months ago on . Most recent reply
[Calc Review] Help me analyze this deal
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Hello BP family! Feel free to review this deal I analyzed. Its a 4 plex. The idea behind the purchase is a FHA loan 10% down payment for a primary resident and live in one unit while renting the other units. My offer price would have to be below asking price. After a year or so fully rent out all units. I calculated monthly rent income as all units fully rented out while me moving on to a new home.
Asking price $299,000
Purchase price (my offer) $280,000 FHA loan 10% down payment
Monthly rent income $3,650. 2 units at $1050, 2 units at $775 bases on market rents and condition of home.
Net monthly cashflow $800
Any advice and feedback would be highly appreciated, thank you! This property can be found on Zillow.