Is This A Good Deal?
16 houses in the midwest, sold together for 280k.
Gross rents add up to 6000/month. Currently 100% occupied.
Not sure of exact expenses yet, but I doubt they will exceed 50%. Which would still leave me with 3000/month in NOI, making the cap rate almost 13%. Appreciation in the area will likely be mediocre, around 3% a year.
In your opinion, is this a good deal or no?
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