Deal Analysis
Looking at buying our first rental. Here's a duplex we're looking at. What do you think? Is this a good deal or should we keep looking?
Purchase price = $75k
Financing= HELOC for full amount at 3% = about $300/mo
Duplex currently rented at $1,300/mo total. Tenants pay all utilities. Both units currently rented. We plan to self-manage.
Property tax = $2,500/yr
Insurance = $1,000/yr
Maintenance = $100/mo
Cash Flow = about $600/mo