Deal in Richmond VA

8 Replies

I am looking into an off market deal in chesterfield court community in Richmond Virginia.

Home is $90,000
Rental is $1100-1200 month
Home is in very good condition - does not require any capex at this time.

MOrtgage / interest / taxes $400.00
Property manager $90
Capex - $110
Maintenance -$110
Vacancy - $110

Cash flow - $280/month
Renter pays all utilities including water and sewer.
Down payment closing costs - $24,000

Thoughts ?

@Trevor Ewen

I would absolutely do an inspection. The homeowner also has a 2-10 warranty which I have had in past. 

You are correct as this is what I was told, I have not viewed the property yet but wanted input from others to really see if it was worth pursuing