First Time Home Buyer - Looking at a triplex in Wisconsin
How does this look for my first buy? Its a Triplex in a small city in Wisconsin. Since this is my first, I am not sure if its a good deal or not. Or perhaps one of my numbers is not correct. Although, I have rented in this city for many years so I feel like I have a good idea what rent should be.
| Purchase | 240000 |
| Dwn Pymt % | 5% |
| Dwn Pymt $ | 12000 |
| Repairs | 0 |
| Cash Down | 0 |
| Cash to Close | 12000 |
| Monthly Rent | 2800 |
| Tax Per Year | 4750 |
| Prop Tax per month | 396 |
| Ins | 50 |
| PM | 150 |
| Mortgage | 1156 |
| HOA | 0 |
| Vacancy(10%) | 280 |
| Repairs(5%) | 140 |
| Total Exp | 2172 |
| NOI | 1784 |
| Inc - Exp(Cashflow) | 628 |
| Annual Cashflow | 7536 |
| CAP | 8.92 |
| C-on-C | 62.8 |
| 2% of Purchase Price | 4800 |
| Rent % of Purchase Price | 1.16 |