3-Unit Deal Analysis (Newbie)
Hey all! I am just searching for more eyes to analyze my first possible deal (Yeah!...hopefully). Thanks in advance!
Setting -- 3 unit in a rural area with all tenants currently on annual leases and paying their own heat + electric. There is also a garage/barn with an amazing extra spot above it. Would rent that out in some form, eventually down the line.
Asking price: $99,000 --- Motivated sellers, so they offer price will be lower.
Year: 1900
Annual Rent: $25,200 --- ~2% deal
Taxes: $2,500
Insurance: $1,500
Water/sewer: $1,200
Trash: $650
Lawn/snow: $600
Hot Water: $2,400
Maintenance: $2,520 --- 10% of rent
Vacancy: $2,520 --- 10%
EXPENSES: $14,000
MORTGAGE: $ 4,500 --- 4.5% intrst
Cash Flow: $6,700