[Calc Review] Help me analyze this deal
I would love to get some opinions from some experienced investors. I am considering this for a buy and hold. Some other factors to consider. It has all new windows throughout. The yard is a nice size. It is a "C" Class neighborhood. Values are unlikely to rise much. It currently rents for $650, but I think I could get $700 for it.
The house is actually in decent condition. It needs a little TLC, but certainly not horrible by any stretch. A potential big disadvantage is the age of the HVAC (1993) and Water Heater (1996) and the garage (detached) will need a roof before too long (within 3 years) Inside isn't bad, could use some paint and few other improvements.
To me the numbers don't really work where they are right now, but that is why I want to get some other opinions. The cash flow seems very tight. Expenses are a bit high with the taxes being almost $1500 per year.
My main question(s)
1. What should the price be to make this a more exciting deal?
2. Would you do this deal if you were me? Why or why not?
*This link comes directly from our calculators, based on information input by the member who posted.