First Rental Analysis
Hey Biggerpockets Members,
I am currently in the process of renting my first home that I purchased. Below is my analysis.
Mortgage, Property Tax, Home Ins.- 830
HOA- 80
Garbage- 15
Lawn Maintenance- 25
Vacancy- 10%
Repairs- 10%
12month leases
House Details
3Bed 2Bath 2Car Garage 1450SQFT in Florida
Inside a partially gated community. No front gate. HOA will be installing one this year.
Rental Comps in my area - 1100-1400 none are inside gated communities.
Rent Charge- 1250
Gross Annual Revenue- 15,000
Vacancy- 1,110
Repairs- 1,110
Gross Expense- 11,400
Net Profit(Before repairs/Vacancy) - 3600
In advance thanks for your help and time.
Chris