Heres the deal—1068 sq ft SFR 2/1
Under contract for 18,000.00
New loan—30,000.00
30 year 6.95% fixed
Annual P&I 2,381.00
No down --No out of pocket
Needs new roof, carpet, paint, floor covering for kitchen and bath
ARV----40,000.00–45,000.00
Rental scenario is not to sporty
Average rent for a 2/1 in the area 350.00-375.00
Annual Expenses
Rep/maint 125.00
Exterminating 400.00
Taxes 125.00
Insurance 337.00
Advertising 100.00
Replace/res 100.00
Total annual expenses 1,187.00
Scheduled gross income 4,200.00
Vacancy 5% 210.00
Operating income 3,990.00
NOI 2,803.00
Mortgage payment 2,381.00
Cash flow 422.00
Principal pay down 296.00
Total return 718.00
What do you think?