Updated 2 months ago on . Most recent reply
2 bed/2 bath Condo for 369,000
Hi everyone,
I’m a 17 year old and I'm new to analyzing rental deals. 2nd attept at analysis and any feedback would be great.
Purchase price: $369,000 on Zillow
2 Other condos nearby go for 2.9k rent monthly.
Important notes:
- Property Tax for area, ~1.05%
Assuming $2900 rent, expense estimates:
Down Payment: $73,800 (conventional loan)
Mortgage: 1,963.08
Property taxes: $325 per month
Insurance: $100
Maintenance: $370 (1% rule)
Vacancy: $145 (5% of rent)
CapEx: $290
Total expenses ~ $3,193/month
Estimated cash flow ~ $2,900/month.
Does this look like a reasonable analysis? Are there any major costs or risks I’m missing when evaluating deals like this?
Appreciate any feedback