Invest in Duplex in a "C" class neighborhood?
Hey ya'll first post here on the forums. "Newbie investor" so go easy on me here.
Been reading and listening a ton to podcasts and articles. Learned how to run the numbers, etc.
I've located a duplex close to downtown Greenville, SC that should (with the proper rents - still a bit fuzzy on this one. More on this later.) cashflow around 4-500/mo.
The duplex is fully renovated already by what I can only assume is an investor looking to flip it.
I'm seeing comparable 1B/1Ba apartment units being rented for $700-800 within 5 min drive to downtown. The duplex isn't in a fantastic neighborhood, has a decent amount of crime, but is slowly being turned over into a nicer neighborhood.
My question is this. Knowing the slow growth and flip into a nicer neighborhood, and the potential to net 4-500/mo, would you invest? Let me know if I'm missing any pertinent info to make the decision. I can provide the numbers if need be.
Thanks!
Blair