8 unit apartment making 48K a year
I am analyzing a property that include 8 units, each 2 bd 1.5 bth which could be my first multifamily investment. It consists of two quads facing each other. It produces $48k a year. Using the 50% rule of thumb $24k minus the loan which according to mortgage loan calculator after the 20% down I would be paying principal and interest of $1411. (before mortgage insurance calculated at 4.5%interest). This would be $16,932 a year leaving about $7000 in profits. I am working on getting all the monthly expenses to analyze this property into more details. I wonder whether or not seasoned investors would also be motivated into analyze this deal into more details after looking at numbers. Thank you for your input.