that doesnt look to bad to me,
dont know how to techniacally crunch numbers down.
but if someone can help me out and let me know if its a yay or a nay
thanks!
Here’s my quick assessment -
PGI - $24,000
Vacancy (10%) - ($2400)
Operating Exp (40%) - ($9600)
NOI - $12,000
$12,000/$209,900 = 5.72% Cap rate. Huge thumbs down. I would almost want to pay half of the asking price. If this “doesn’t look bad to you” then you need to get some serious education…
All three units are empty during remodel…
Place looks nice but you’re really paying for his repair work and paying top dollar.
If you had bought the property for what he did and had the repair work done, you’d probably have yourself a good property, but as it is… well the others summed it up.