1st Deal: 260K Duplex Too conservative?
All numbers annual. House built in 1980. Property is 2.5 hrs away and has long time tenants in place. Rents 1150 newer tenant & 925 longtime tenant, identical units which leads me to be optimistic about raising 925 up over time. Considering self managing to make this baby cash flow. Am I missing anything? Thoughts?
Rental Income = 24900 Cash Flow = 1026
Vacancy at 5% = 1245
PM at 10% = 2490
Property Tax Estimated at 1.25% = 3250
Repairs at 8% = 1992
Cap Ex at 8%= 1992
Insurance = 1048
Mortgage @ 4.5% = 11856