Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago on . Most recent reply

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?