$550 / mo rent on $12k condo???
So I am back at it with these low purchase price condos.
This is for a 1br/1ba downstairs unit in a 110 unit complex.
Current owner bought property 6 months ago, rehabbed it and is flipping it (I talked to the maintenance guy on the property who told me how extensive and nice the rehab was).
Monthly rent in complex: $550
Purchase Price: $12,000
Taxes: $40 / month (~$475 per year)
Insurance: $40 per month
HOA: $190 / month
Sewer and Water :Included in HOA
Trash: Included in HOA
Heat/Utilities: Tenant pays
Cap Ex and Ops
Mgmt Fee - 10%
Vacancy- 8%