Please give your opinions.Appraisal price $140,000Asking price $139,000Purchase Price $130,000
20% downpayment $26,000
Closing costs $2600
Mortgage $104,000
Monthly Gross Rent $1500
Expenses (monthly)
Taxes $190
Insurance $85
Maint/Capital expense $225
Management $150
5% Vacancy $75
Total Expenses $725 month
Net Rent $775
Mortgage payment (P+I) $482.84
Monthly cashflow $292.16
This is a legal duplex with seperate metres (tenants pay util.)
It was built in the early 1990`s but is in need of maybe $5000-$6000 of lipstick renos.
I appreciate any and all opinions and comments
Would you buy this?
20% downpayment $26,000
Closing costs $2600
Mortgage $104,000
Monthly Gross Rent $1500
Expenses (monthly)
Taxes $190
Insurance $85
Maint/Capital expense $225
Management $150
5% Vacancy $75
Total Expenses $725 month
Net Rent $775
Mortgage payment (P+I) $482.84
Monthly cashflow $292.16
This is a legal duplex with seperate metres (tenants pay util.)
It was built in the early 1990`s but is in need of maybe $5000-$6000 of lipstick renos.
I appreciate any and all opinions and comments
Would you buy this?