🏘 Should you buy a fixer upper duplex as your first home?
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You're weighing a real first-time buyer decision: leverage rental income to afford ownership, but take on renovation risk and landlord duties. The math works if you can handle the complexity. Plug in your numbers to see if the rental income covers enough of the mortgage and repair costs to make this duplex a smart buy. See the official FAQ
💰 Your Current Finances
Start with your income and savings. You need enough cash to cover the down payment plus the immediate renovations to make the vacant unit livable.
🏡 Second Home Details
Enter the duplex details. Putting 5% down keeps your cash free for renovations, but increases your monthly mortgage payment.
Down payment amount
Mortgage principal
Monthly mortgage payment (P&I)
🧾 Additional Monthly Costs
Beyond the mortgage, budget for taxes, insurance, and maintenance. Add the estimated cost to rehab the vacant unit and the rental income from the occupied side.
Total monthly operating costs
📊 Debt-to-Income (DTI) Analysis
Here is your true out-of-pocket housing cost after collecting rent. We also check if your Debt-to-Income (DTI) ratio stays under the 43% limit lenders prefer.
Gross monthly income
Total monthly housing payment (before rent)
Net monthly housing cost
Lender qualifying income
New DTI ratio
🔗 See Also
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For further related reading, check out:
⚖️ Affordability Verdict
Recommendation
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Your qualifying DTI ratio
Your net monthly housing cost
Remaining monthly cash flow
Calculator updated by heyfinfam (v26.7.0) · View history
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Disclaimer: This content and any calculations provided are for informational purposes only. The views, calculations, and methodologies expressed are those of the author and do not necessarily reflect those of this platform. Not financial advice. Users are solely responsible for any decisions made based on this information.