Updated almost 8 years ago on . Most recent reply
Please Review my Rental Analysis!
Hey BP Fam!
So this is another one I'm going to be submitting an offer on for my first out of state investment in Columbus, Ohio so here are the numbers!
Info on property: From listing photos, it appears to be very renovated on the inside.
Closing cost = assumed 4%
Vacancy = county average of 6%
Property Tax Pulled from Redfin tax history report section.
Rents = Confirmed with agent the values
Any advise / comments are much appreciated!
| Bd / Ba | ||||
| Unit 1 | 3 | 2 | ||
| Unit 2 | 2 | 1 | ||
| Unit 3 | - | - | ||
| Unit 4 | - | - | ||
| Asking Price | $ 173,000.00 | Down Payment | 25% | |
| Actual Purchase Price | $ 133,000.00 | Loan Amount | $ 99,750.00 | |
| Closing Cost | $ 5,320.00 | Interest Rate | 5.125% | |
| Annual Property Tax | $ 2,500.00 | Duration of Loan (years) | 30 | |
| After Repair Value | $ 133,000.00 | Monthly Payment | ($543.13) | |
| Estimated Repairs | $ 5,000.00 | |||
| Total Cash Required | $ 43,570.00 | |||
| Property Tax | $ (208.33) | NOI | $ 480.54 | |
| Water | $ - | GRM | 6.157 | |
| Vacancy | $ (108.00) | 6% | Cap Rate | 4.34% |
| Maintenance Expenses | $ (108.00) | 6% | COC | 13.24% |
| PM Fee | $ (144.00) | 8% | ||
| Cap Exp | $ (108.00) | 6% | Unit 1 | $ 850.00 |
| HOA | $ - | Unit 2 | $ 950.00 | |
| Insurance | $ (100.00) | Unit 3 | $ - | |
| P&I | $ (543.13) | Unit 4 | $ - | |
| Total Monthly Expenses | $ (1,319.46) | Projected Monthly Rent | $ 1,800.00 |
Most Popular Reply
@Michael M. Fellow OC in the house. I'm a fan of Columbus and think you'll like it. Congrats! Keep stackin them units.