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My background is in constucton/sales for apartments & single family homes. The numbers are rough but vacancies in my market are rare. typically I would account 5% of gross rent to vacancy and 15-25% to repairs depending on property condition at purchase. Rental rates and purchase price confirmed on the MLS. Where did the $75k number come from?
thoughts from landlords in here?
anything I am missing?
Any reason why you are not calculating property tax and insurance? Utilities, landscaping, replace flooring due to useful life or pets, that $600 might quickly become $300 a month. If it is an single unit with an HOA, you need to examine the health of the reserves. Without adequate reserves you might get hit with a special assessment of hundred a month.
Even if you make only $100 a month off the 35000, you are still at 3.4% annual return on the rental.
At 2% for the car loan, it doesn't make a lot of sense in paying it off. The interest is only $65 or so a month.
Based on mortgage and down payment I'm guessing 120-140k with $20/mo property taxes.
Most places with low cost housing don't have decent public transportation.
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