College Town - Rental - Help Analyzing

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I know this doesn't meet the 2% rule but looking for feedback on if my estimates for maintenance/cap ex are too conservative or any general feedback - house was built in 1950's. I ran the numbers based on current rent but see opportunity to make small upgrades to get more rent and possibly air bnb during the summer or look for summer renter. 

 

@Greg Seldon , is this the duplex?

  • Is there income from the basement laundry? Can you add it?
  • You might want to bump repairs and CapEx, since this is student housing.
  • Doesn't look like there's much lawn, but what about snow removal?
  • Cleaning? I've read from other student-rental landlords that you budget for cleaning to keep the place presentable and an eye on what's going on. Might be worth considering.
  • Closing costs might be low. I'd expect about 2X.

Overall, your per unit cash flow is pretty great, but CoC ROI of ~10% wouldn't be good enough for me. Especially, considering the potential headaches of a student rental.