This property is no longer available! Sold.
This property is available now! I love this supplier. They have some of the best rehab jobs I’ve ever seen. I even own a property from these guys.
Location: Atlanta, GA. Single-Family Home. Built In: 1999
Purchase price: $95,555 (not a foreclosure, normal sale)
Property info: 3 bedroom, 2 bathroom, 1386 square feet
Monthly rent collected: $900
Property taxes: $83
Property management fees: $90
Monthly expenses (conservatively estimated)
Vacancy (7%): $63
Repairs (5%): $45
Total Monthly Expenses- $313
Net Income = Income – Expenses = $587 ($695 with no vacancy or repairs)
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 7.3%
Cash-on-cash return =
Depends on your leveraging.
Are you thinking the cap rate is lower than what you are interested in? Check out one of Ali’s articles from BiggerPockets that hits this exact topic!