Please let me know your thoughts on this Charlotte, NC duplex
Charlotte, NC, Duplex, 600 sq ft per side. Each unit has 2bdrm, 1bath, kitchen but no laundry. Offering $59,900. Both units are currently rented for 1 year. Unit 1 rented for $445, Unit 2 rented for $390 so total rental income is $835. New homes being built all around the neighborhood and it's close to uptown Charlotte.
Monthly expenses including, mortage $234.35, taxes $883, insurance $892, money put aside for monthly maintenance $41.75, money put aside for vacancy contigency $83.50, property manager fee (estimated high) $91.85. Total monthly costs $599.90.
Looking to hold for about 4 years and then renovate.
Thoughts?