1st Deal Analysis
New to the site and want to share the numbers on my 1st rental in Philadelphia.
3 bedroom 1 bath Row Home
Cash Purchase price after closing - 19,500
Rehab costs - 13,500
Total investment - 33k
Appraised Value after rehab - 44k
Cash out refinance - 33k at 4.12% 15 year fixed
Rent yearly (section 8) - 11,160
Mortgage & taxes yearly - 3,732
Insurance yearly - 1,080
Any opinions on how these numbers will hold up in the long run? Currently rented in a 2 year lease. Rent at 930 per month, $923 guaranteed from the housing authority, tenant pays $7 per month.