The previous owner has replaced the HVAC, water heaters and put in granite countertops in the past couple of years.

The previous owner has replaced the HVAC, water heaters and put in granite countertops in the past couple of years.

Way back before I owned the place (1986) the place flooded with about 1-2” of water covering the basement floor.

Plus water/sewer (about $1000k a year).

They will provide a guaranteed personal response 24/7 for urgent matters (water leaks, electrical, etc) and 24 hours personal response for normal repairs.

There could be more to this, a larger underlying issue, but from those pictures alone I would say repoint the cracks to prevent water infiltration and dont worry any more about it.

Make sure there is an appropriate of coverage for accidental discharge of water from plumbing or appliances. 5.

Here is my deal analysis:PURCHASEPurchase Price$120,000.00Down Payment$24,000.0020.00%Closing Costs$3,240.00Mortgage$437.00INCOMEMonthly Rent$1,200.00EXPENSESProperty Tax$267.00Home Insurance$85.00Vacancy$50.004.17%Maintenance & Repairs$60.005.00%CapEx$96.008.00%Water & Sewer$80.00Gas$0.00Electricity$0.00Total Expenses$638.00DEAL ANALYSISNet Operating Income$562.00Monthly Cash Flow$125.00Cap Rate5.62%Cash on Cash Return5.51%So when I first looked at this deal, I saw there was long term tenants (so lower vacancy), the living spaces of the property were actually very nice for a MFH, and the price was attractive.

All units  are individually metered for water and electricity bills.

I underwrite 15% when combined with repairs.You have Water listed twice.