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Updated over 5 years ago on . Most recent reply

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Derick Wolf
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Does this multi-family straight off the MLS appear to cash flow?

Derick Wolf
Posted

Originally I calculated this out assuming tenants pay utilites, but then I found out they don't have separate meters, and landlords pay electric, gas, and water.  Maybe I could change this in the future- but can anyone check my numbers?  Am I being too conservative with my assumptions?  FYI, rents are $1,100 for unit 1, and $1,300 for unit 2 plus 7 garages fully rented at $100 a piece.  There are "decent" tenants with year leases.

This is assuming full MLS price of $275K with 20% down at about 6% interest rate. This is central pennsylvania, and the stated vacancy rate online says 5.8%, but I went a little conservative- but I'm not 100% how much I should choose for CapEx for 2 apartments and 7 garages. Assume tax and insurance are accurate below- are any other numbers off?

Price 275000
Rent 3100



Expenses:

Taxes 430
Insurance 150
Water 56
Electric / Gas 351
Lawn / Snow 75
Vacancy 210 7.00%
Property Mgmt 248 8.00%
Capex / Maint 310 10.00%
Total Expenses: 1830
P & I: 1319
Expenses + Mortgage (P/I) 3149



Cash Flow: -49
12 Month Cash flow: -588
Enter cash invested: 60000
Cash on Cash Return: -0.0098

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