Calc Review: Help me analyze my first duplex!
*This link comes directly from our calculators, based on information input by the member who post.
I've been scrubbing all the local channels to try and find the right multi-family for me. I really love this area of Houston because it's tranquil but right in the middle of everything and it a great mix of luxury homes and original, expansive ranch style homes still owned by the families that built them in 50's & 60's. The property looks like a SFH but is a duplex: 3/2 & 2/1, each with its own garage and indoor laundry room.
I entered all of my info I've spent a few days putting together for this one but I'm thinking I didn't get the refinance loan part right...? If the ARV is 370k I entered the loan amount for the refi to be 70% of that. Is that correct? I don't know that this is a home run for my first multi-family but the potential it has for forced equity and rent increase and also the future appreciation has encouraged me to at least make an offer. Thoughts? Corrections? Reality checks?