Is my math correct? Georgia Deal Analysis

[Eugene Beard]

Here is a copy of the deal analysis with the number I think will work. I tried to be conservative but Im not sure how well I did. Take a look should I run or buy fast? I am trying to do a house hacking in a quad plex. Here are some basic numbers. all my numbers are estimates.

Listing price: 285,000

Zillow estimate:166,000

My estimate of what I should buy at: 230-250K

Repairs: 40K(10K per unit)

Built: 1985

Current Rent:Unit#1@750, #2@750 #3 & 4 Empty

Market rates for 2 bedroom peak is $800 AVG is 700

  This is sight unseen maybe no repairs are needed.but i doubt that. Any questions let me know. I think it will be a good deal at 250K with 3 renters at 775(since I am improving every unit rent should go up) i will have $2325 in income.

Other important information I have a no money down loan where every 1% i put down drops the interest rate of 3.75% down .25%.

Thanks for reading.

Calculator PDF:

https://www.biggerpockets.com/calculators/shared/198301/c032433d-8d42-45ab-afcc-854f0666c799

[Watson Smith]

I don't know if I could justify paying 62.5k a unit for $700 a month rent.  I know duplexes in C neighborhoods that are 90-100k and rent for $675-725 easily (1000sqft 2/2 each side)... And have been on the market for a while.  I don't think its a bad return like Chuck said.. I just think theres better out there.  The strong point of this deal is the loan due being an owner occupant.  This would have to be in a very good school district and neighborhood for me.