Updated over 8 years ago on . Most recent reply
Is this a good deal?
Two old properties in one deal. 1.5 hour away from where I live. Total 13 units. One block away from university. Some units are current vacant.
Total yearly rental income: 139,440 (if fully occupied)
Total expense $60,000 (including tax, insurance, estimated repair of $13,000, utilities)
PM fee 7%: $9,700
5% vacancy: $7,000
NOI: $63,000
Asking Price: $1,235,000
Owner claims the rent is below market value.
Should I pull the trigger?