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?
What is the arv?
Are the windows vinyl or original?
Last time electric was updated?
Not sure on the mechanicals, haven't actually taken a look at the property yet. I'd say ARV is around $120K. Windows are vinyl.