New Investor Analyze This Deal
Hello,
Looking for some advice for a new investor. I'm looking at a Fee Simple ownership of a townhouse. The house is in great shape - the current owner was a carpenter and took great pride in his home so very minimal work will be needed on it. I'll get the roof checked out during the inspection.
Here are the numbers:
Purchase Price - $191,000
Comps - $195,000 - $205,000
Taxes - $2302
Insurance - $950
Utlities - $0 (tenants responsiblity)
Total Monthly - $1050
Rent - $1650-$1800 - I'm thinking closer to $1,700.
Total cash flow = $650
With vacancy reserves, I'm looking at close to $500 cash flow monthly. These numbers seem to be excellent and want to get some feedback and see if I'm missing anything.