Updated over 9 years ago on . Most recent reply
Triplex Analysis for a noobie
I am looking at purchasing a mid-1980s Triplex (2/1 for each door) for $120k. It is currently at 100% occupancy at $675 per month.
Monthly rent - $2,025
Taxes - $145
Insurance - $125
Management - $202.5
Maintenance - $202.5
Vacancy - $202.5
Total Expenses - $877.5
Down Payment - $40k
Debt Service ($80k @ 20 years) - $472.5
Cash Flow - $675 ($225 per door)
This is my first property so I want to make sure I am doing everything right. However, the math seems like a deal. I am currently stationed overseas so I will not be able to actually conduct a walkthrough. What am I missing?