Help me analyze this deal - first buy and hold rental
Hi folks,
Would anyone be willing to give me a sanity check on my numbers for a buy and hold rental?
*This link comes directly from our calculators, based on information input by the member who posted.
my general analysis is the following:
Description: a nice, simple Duplex that doesn't need much work - if any.
How are the numbers:
- How much down: 20%
- Interest 3.0%
- Income: each unit rents for $1k/month. Total of $2k. Currently, both sides are leased.
- Expenses:
- Owner paid water ($35/month), garbage ($50/month), and lawn/snow removal ($50/month).
- Budgeting 5% for repairs/maintenance
- 5% CapEx - new metal roof in 2016, no HVAC system, basic/cheap appliances in decent shape, septic.
- 5% Vacancy - one unit's lease is up June 1, already have a signed 1yr lease for the new tenant.
- 10% Management fees - seems about standard.
- Taxes, High, low, etc: Taxes in NY are a little different, and generally much higher than the Midwest (home). The property is currently valued at $94k with almost $4k in taxes per year.
- Appreciation: ?
- Appreciate any thoughts, or letting me know anything I missed.
- Thanks!
- Edit... sorry about the formatting bullets - I cant get them to leave :(