St. Louis Fourplex -- Too Good to Be True? Deal Analysis Help!
I've found a property with numbers so good that I'm wondering if I've analyzed the deal incorrectly. I'm a newbie and would really appreciate the feedback! Here's the property: The St. Louis Fourplex (I'm not ready to pounce as I'm still learning the basics).
Can anyone confirm whether my numbers are correct? What am I missing that would make this NOT a good deal? Note that I am not located in / familiar with St. Louis--maybe this is a terrible part of town? Thanks in advance!
Some key numbers extracted from the screenshot below:
- Purchase Price: $95k
- Rental Income per unit (monthly): $670 (based on myrentrates analysis for 1BR 1BAs)
- Units: 4
- Repair Costs: $15k (total guess, but even with a $100k rehab/repair cost the ROI would be 12.9%).
- Cash Flow per door: $340.29
- Cash Flow, all units: $1361.16
- CoC ROI 39.26%
