Tools use to analyze a property

[Rachit Puri]

Hello BP folks,

I live in Seattle and looking for my first investment property in Texas or Florida. I'm mostly focusing on SFH or 2-4 unit multi-family with a 450k budget. I need help with tools/websites used by other folks for the following purposes:

1. Cash flow: Website or tool to run property analyses and see if it is cash flow positive. I tried https://www.calculator.net because it's free but I'm sure there are better tools out there, maybe the one BP provides.

2. Area type: How to check if the property is in the A/B/C area?

3. Crime rate: What's acceptable in terms of crime rate? Let's say I target Orlando, what value is acceptable?

4. Rent estimate: Any good website to analyze the ballpark rent for the property?

I know most of the above things can be answered by my real estate agent and the property management company but I would love to run the numbers by myself to cross-verify.

Thanks,

Rachit

[Edward Zachary Samperio]

Hi Rachit,

Great questions! Here are some resources that may be helpful for you:

1. Cash flow: BiggerPockets has a free rental property calculator that can help you analyze potential deals. You can also check out websites like Roofstock or Mashvisor which provide rental property analysis tools for a fee.
2. Area type: There are a few different ways to check if a property is in an A/B/C area. One option is to look up the property on NeighborhoodScout, which provides neighborhood reports that include a neighborhood grade from A-F. Another option is to look up the property on a site like Zillow or Redfin and check out the crime statistics and school ratings for the area.
3. Crime rate: What's considered acceptable in terms of crime rate can vary depending on the area and your personal preferences. For Orlando, you can check the crime rate using a site like NeighborhoodScout or AreaVibes.
4. Rent estimate: Websites like Rentometer, Zillow, or RentRange can give you a ballpark estimate of rent for a specific property.

Remember that it's important to do your own due diligence when investing in real estate, and to work with a real estate agent and property management company who can provide additional insights and guidance.

Best of luck with your property search!