Investment Duplex
Good morning BP nation! I'm looking at a duplex as a buy and hold property where I would not live in either units but would be the PM.
Purchase price $150,000
20% down 30 year mortgage
Initial cash invested $34,500 ( closing costs 3%)
1,500 SQF
Unit 1- 1 bed 1 bath rents currently for $775 but will be going up to $800
Unit 2- 3 bed 1 bath and will be renting for $1,000
Gross rent- $21,600
Operating income- $19,872
Operating expenses- $8,343
Taxes- $6,200
NOI- $11,529
Cash Flow- $4,654
Cash on Cash return- 13.5%
This would be my first duplex and looking for any insights on if this is a solid deal or what numbers I would need to make this work.
Thanks!
Sean