Almost a 2% deal! But is it actually worth it??
Hello BP!! I have finally found a deal that just about makes the 2% rule (1.79). Please give me your opinion on the deal and if you would purchase it? If not, at what purchase price would you consider it a good deal? Here's the numbers...
Asking Price : $89,500
Gross Rent: $1,600 (4, 1-bed/1bath units)
Mortgage Payment (Principal and Interest): $363
Other Fixed Monthly Expenses (utilities,taxes,insurance): $450
Vacancy: $160
Repairs &Maintenance: $160
CapEX: $160
Future Prop Mngmt: $160
Total Expenses: $1,452
Monthly Cashflow: $147
COC ROI: 6.33%
Thank you for your responses.
-Jordan