Calculating 20-30% CoC return. Check my calculations
I am living in the twin cities, but looking to buy rental property in my hometown of Duluth. The reason I am looking in Duluth is because I know the city very well, rents are high compared to property value, and I have many connections there for repairs.
I keep running calculations on these properties, and even at list price I am getting insane returns. I usually calculate like 10-15% in the twin cities area. I thought I was being conservative on expenses but I don't know. Just looking for some input.
This is a duplex. Both 1 br units renting at 650 and 700. In a not-so-great part of town.