First Multi Home Prospect
I'm currently working on my first 4-unit property in Ohio. It's a 1960s all brick residential parcel in a neighborhood full of similar units and in a shook district rated 5/10. Two new residential developments ($125-200k properties) of single family homes have went up on either side of this small neighborhood.
Price: $120k
Gross Rent: $1800/mo
Taxes: $333/mo
Utilities: ~$150/mo
My question is if anyone else has had a similar experience dealing with 4-plexes that rent from $400-500 like these and what your experience has been with the type of tenants you have been able to get.
Thank you!