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I'm in NorCal and real estate is expensive. I keep looking at this deal wondering if there's a better use of $60k. This property first record of purchase on Zillow is 9/1999 selling at $89,500, indicating a 21.82% appreciation rate at the current sale price, including factoring in a 51% drop in value when sold in 2010. My model uses only 10% to be conservative. Not the cash flow I was hoping for. Am I missing something here or is this a deal worth doing? By the way, broker thinks we can get a $10k credit at close for a new roof needed.