What is the rent level in 2021 when the previous owner sold

Do you mean current rent level is $20k/month? If yes, even it includes some utility costs (2-3 thousand at most?), the effective rent is around $17k to $18K.  Therefore the asking price of 2.4 millon is not too bad in my opinion.

My guess: previous rent level is pretty low (like around $10k/month), so the current owner somehow increased rent from $10k/month to $20k/month----that increased the NOI, and therefore increased the asking price to $24k.

Why can the rent be increased so much? 

1. Market rent inflation for the past 2-3 years.

2. Small area becomes revitalized, so bad tenants moved out and quality tenants move in with big rent increase?

Just my rough guess. 

所有跟帖： 

• 你的思路方向是对的。按翻新后的状态，21年每单元租金应该在700，现在约1000，不过，你把费用算低了。 -守月- ♀ (561 bytes) () 02/12/2023 postreply 21:00:54

• see calculation below---costs are too high -xhjaer19721- ♀ (1343 bytes) () 02/13/2023 postreply 10:41:21

• 算得好，你这算法才正确，仅算还贷地税和保险，会倒贴不少。我只心算算，就知道卖家没计算维修空置等，看似打平，其实做不动。 -守月- ♀ (75 bytes) () 02/13/2023 postreply 13:19:26