Check out these numbers, let me know what you think!
There are 2 properties each priced
at $45K, there is a 2fam and a 3fam
Let me know what you think:
[/u]
Purchase Price: 45,000
Appraised value - $80K
Lot Size:3,630
Living Area: 2,160
Taxes 899/yr
Insurance 700/yr
Total 1,599/yr
Income: $1,100 x 12mos = $13,200/yr
Net Income = $13,200 - $1,599 = $11,601
Annual return: $11,601/45,000 = 25% return
[b]
·Purchase Price: 45,000
·Appraised value - $80K
·Lot Size: 4,160 sq. feet
·Living area 2,654 sq. feet
·Taxes 1,594/yr
Insurance 700/yr
Total 2,294/yr
Income: $1,367 x 12mos = $16,404/yr
·Net Income = $16,404 - $2,294 = $14,110
·Annual return: $14,110/45,000 = 30% return