4 plex Multifamily analyzing deal
Hi guys
I am looking to purchase my first Multifamily this would be a first deal in real estate
I found with my broker a property I am thinking maybe a good deal but I would like your thoughts on it .
4 unit Multifamily centrally located in west Chester NY
Income 3720$
Expenses
Mortgage insurance and taxes is 1276$ a month
Vacancy 186$
Repairs 186$
Cap ex 186$
Management 372$
As of now the landlord pays electricity and gas
600$ a month
Water and sewer 50$ a month
I was thinking if I take the property and put separate meters for water and electric I can have the tenants pay their own utilities
Please share your thoughts on the deal