[Calc Review] Help me analyze this deal - Brick Duplex
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I am looking at this property, currently going back and forth with the seller on it. They bought it 2 years ago for $55k and put 2 brand new furnaces in, other than that I can't tell that they have done much of anything, over all the properties are in pretty decent condition. With some fresh paint new counter, and a new bathtub and surround in one of them I think they will get $575/mo each side all day long. Currently rented at $530 3 mo into a year lease and $510 mo on a month to month. There is a crappy 2 stall garage out back no one is using with no power currently run to it, could potentially add monthly storage fee or rent it out to 1 of the tenants for x/mo. All utilities are separate I would only be responsible for mowing/snow removal. I budgeted $40/mo because my hope was to get 1 of the tenants to do it and apply that credit to their rent as our PM has done that with other multi's in the past. It does have old single pane windows that I have thought about upgrading depending on the appraisal, which I think will help justify the increase in rent easily with savings in energy cost. both have their own laundry.
Just wanted some other eyes on it, seems like all the #'s are great but I currently only have SFH's no multi's and those SFH's have been more BRRR than this would be with multiple exit strategies.
My SFH's i do 10% for Maint/Capex i upped it to 15% and i do 5% vacancy that I increased to 7%.