[Calc Review] Is deal too good to be true?
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I'm looking at a duplex that is currently tenant occupied at 950 / month. The other unit is the same size (3 bed, 2 bath) and can rent for the same for a total of 1900 / mo in rent. That's assuming I don't increase rent to match the rental comps in the area which are an average of $1,366 for a 3 bed 2 bath.
I put in high vacancy as tenants in the area tend to rent month to month, along with 10% for maintenance, capex and management.
The property is in good condition needing minor cosmetic things to be rent ready and appears to cashflow at $552.08 with a 20% ROI.
Is there something I'm missing?
Most Popular Reply
Ya insurance otherwise you have a 2% rule property. If it's a rough area, I may look into budgeting for evictions and extras like that too