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Updated over 7 years ago on . Most recent reply

User Stats

16
Posts
1
Votes
Michael Yan
  • Investor
  • Salunga, PA
1
Votes |
16
Posts

Is this a good deal?

Michael Yan
  • Investor
  • Salunga, PA
Posted

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?

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