Dayton (Kettering) 4-plex deal analysis
Hello BP members!
I have been eyeing some 4-plexes offered by a turnkey company in Dayton.
Here is an example of one:
514 Wiltshire Blvd, Kettering OH 45419
Its 4 1bd/1ba rooms
I want to get everyone's opinion on how good a deal this is. I would be responsible for water, trash and yard maintenance. Turnkey company assessed this cost as 1800 a year. Is that too low? Here are the numbers I crunched.
| Purchase | $155,000.00 |
| Rent | $2,100.00 |
| Mortgage | $665.66 |
| Taxes | $294.08 |
| Insurance | $66.67 |
| Vacancy (7%) | $147.00 |
| Repairs/capex (10%) | $210.00 |
| Prop Mg (12%) | $252.00 |
| Maintenance | 150 |
| Total expenses | $1,785.41 |
| Income w Mortgage | $314.59 |
| Income wo/ Mortgage | $980.25 |
| Cap Rate | 7.59% |
| COC | 11.33% |
| 50% rule | $384.34 |
Note quite 100 a door, but appealing to me given the good school districts and location.