Updated almost 8 years ago on . Most recent reply
Help me analyze a this deal
Off market condo in class C area with tenant in place on month to month who doesn't want to move. If tenant did vacate unit would require $4-7k to get rent ready.
$230k sale price
Current rent $1675 approx $125 below market.
New roof in 2010 and furnace in 2013.
HOA $145
Tenant pays utilities and owns appliances.
With conservative estimates for PM, Cap X, M & R, plus taxes and insurance it looks like this is going to be a negative cash flow deal even if I raised rents to market value.
Am I missing something?