Rental analysis on a Bronx property
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Eliu Rosario
posted about 2 months ago
I found a property that might look promising after all calculations. Any input would be greatly appreciated.
Purchase price $364,000
$100,000 renovation on the low end
Price/sqft:$214
$288 taxes/month
$125 insurance
$120 vacancy
$120 maintenance
$120
CapEx
$1,872 total expenses
Rental income $2,400 /month
Similar homes are selling for 580k. This would be my first investment but I am having analysis paralysis syndrome.
My plan is to get a loan from a hard cash lender, and BRRR process.
Thanks for the help in advance.