Updated about 9 years ago on . Most recent reply
Finally purchased my first duplex!
After a few years of reading, researching and listening to podcasts I finally purchased my first investment property in Michigan. Below is my analysis on this duplex. Please let me know your thoughts and if I missed anything.
Purchase price: 35,200
Repairs: 3,250
Duplex
b-/c+ neighborhood
Yearly PITI: $2,952
Water: $1,200
Electric: $720.00
Property management: $1,320
Maintenance: $1,200
Vacancy: $1,200
CAPEX: $1,020
Total expenses: $9,612
Gross income: $12,000
NOI: $2,388