Updated over 9 years ago on . Most recent reply
Analysis needed
We are looking at a 3 bedroom 2 bath condo, short sale in northern Virginia. The current price is $220,000. Needs around $7000 worth of cleanup. Rent is approx. $1750, HOA is $307, annual Taxes is $2794. Looking to purchase, hold and sell in 3-5 years, BRRRR strategy. Resale right now in top condition is around $255,000. Vacancy rate is approx. 1 month per year if tenants leave. Looking at 30 yr fixed around 5% for conventional loan with 20-25% down.
Please let me know if any additional info is needed.