Buy and Hold Deal Analysis

2 Replies

So I'm looking at my first rental.

5 BD / 1.5 BA, 1800 sq ft, circa 1905

$67,000 purchase price, would bring $1200/mo rent based on padmapper, rentometer, mapliv, etc.. and I think that's being conservative. Taxes are $2000/year. I have a property manager lined up, already manages my townhome.

Doesn't look like it needs much work, maybe refinish the hardwood floors and stain the back deck. Has a slate roof in a "historic district", that looks like it might need some repair. It's original I assume. Does have vinyl siding already, so they should help on maintenance. Neighborhood's nice, but the school district's bad.

Anyway, I think that's all the pertinent information. What do you guys think? 

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