does this look like a good deal?

Question

Hi there, looking at this deal in rochester, I found this in monroe. I have not going to be buying this as I don't yet have my bank set up so this is just me practicing. Please let me know what you think. I didn't add the expenses higher or adjust any numbers, i just entered the data as is in an optimal environment first.

thanks, let me know if you would buy and why you would or wouldnt!

cheers

thanks, let me know if you would buy and why you would or wouldnt!

cheers

Harry Wilson · Answer

thanks

turns out i only added town tax and not city tax aslo

I also added in 5% for cap ex and 5% for vacancy 5% for repairs and maintenance.

cash flow is now quite low, however in the next calculation, I lowered the offer price to 57k which makes it a bit better, is 12% cash on cash a good investment in your eyes?

Eddie T. · Answer

The monthly taxes on your calculation are incorrect it should be around $250 a month. I cannot access the city's website at the moment to confirm the actual numbers.

Also I see on your MLS sheet that it is assessed at 49k and they want to sell for 69k. The assessment does not reflect the true value just a guess by the city but your realtor should help you determine an accurate value.

You did not separate on your spread sheet insurance, repairs or capex. Better to add values for those, insurance would probably be around $600