BRRRR in Klamath Falls Analysis
Newbie here - this is one of the first deals I took a look at but unfortunately it required a lot of TLC and was too far away to be practical for me to work on it. Looks like it has moved off the market now. Do my calculations for this deal make sense and was it worth pursuing?
3228 Boardman Ave. Klamath Falls, OR 97603
Asking Price: 39,990
Est ARV: 95,000
Down Payment: 9,975
Renovation budget: 25,000 (probably too low, lots of sweat equity)
Expenses (monthly):
Mortgage: 151.63
Property Taxes: 97.25
Insurance: 16.67
Property Management: 80
Vacancy Rate: 40
Capex: 80
Results:
Total expenses: 465.54
Net Monthly Income: 334.46
Annual Income: 4,013
Gross Yield: 24.06%
COC: 10.97%
Exceeds the 1% rule