Rental Property Deal Analysis

[Stephanie Anson]

I am currently looking at a quadplex and this is the first time I am looking at rentals beyond a single family. Would just like to get some advice on if this is a good deal.

Listed at 214,000. Needs updates and some repairs built in 1987 2 bed 2 bath 930 sq feet each. Rent 675 once updated. 40,000-45,000 in repairs and updates. I was going to ask 150,000 with 45,000 repairs puts me at all in 195,000 and 20%down Mtg of 156,000, with piti of 1250 ish.

Opinions would be appreciated!!