Trying to do my first investment - can you help me evaluate deal?
I found a property - its a small duplex.
It is two - 2 bedroom apartments
1st unit - paying $1,500 month
2nd unit - paying $1,300 month (not paying rent currently)
Total income $2,800
Tenants pay all of their own utilities
Land lord paying Taxes $3,300/year and water
Will need new paint, and some touching up.
Owner asking $575k
I am want to put an offer in, want to know if you experts out there could tell me if this is a good deal/bad deal and any input.
Thank you