Updated over 5 years ago on . Most recent reply
[Calc Review] Help me analyze this deal
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This just came on the market..Let me know what you all think!!
Most Popular Reply
@Nick Mcroberts, a few things to think about here:
- Do you have comps that support $850/month rent and $80k ARV?
- Closing costs look low. Check with your lender.
- 3.5% on a non-owner occupied mortgage might be optimistic. Always worth shopping around.
- Insurance is a bit high, I think. Talk with a local insurance agent.
My biggest concern is that you'll have to dump more than $16k into the reno. Beyond just cosmetics, the bathroom needs a lot of work. Might be a full gut. Have you been inside yet?