Updated almost 11 years ago on . Most recent reply
Anything wrong with this deal?
My partner and I are looking into this investment property... Initially, it looked too good to be true, but even after finding some hiccups, I still believe it will be a go - thoughts, comments, suggestions, concerns are highly appreciated!
More details:
Asking price 600K - 6+ multi unit property.
- Gross Income: $93,300
- Total Monthly Rent: $7,775 (includes heat and hot water)
- Gross Expenses: $35,229
- Water and Sewer Expenses: $2,922
- Repairs & Maintenance Expenses: $6,511
- Insurance Expenses: $6,215
- Gas Expenses: $4,562
- Electricity Expenses: $946
- Taxes: 9432
- NOI: $53,406
Additional information:
Most rents are below market.
Gas furnaces and electrical systems were updated less than 5 years ago.
Roof is 10 years old.
Thanks in advance!
Flavio