15-unit apartment in Sherbrooke
Hi, i'm currently considering this property (and others like it)...was just wondering if my numbers make sense:
assuming i close at 1,100,000:
mortgage rate = 1.65% (By the way is this realistic for commercial mortgage)
monthly mortgage payment will be 3,581 (yearly total of 42972
other expenses: 31361 (see pic below)
total expenses: 74333
NOI: 107724 - 74333 = 33391
down payment = 20% of 1,100,000 = 220k
cash ROI = 33391/220000 = 15.2%
seems like a great deal (15.2% cash ROI), however i'm not super familiar with commercial multifamily, anyone want to give their opinion on my numbers? thanks
