Is buying a rental property which is 100 years old worth?

2 Replies

Hi,

First of all, I really appreciate you for taking out your valuable time to read my post.

I need a favor to understand your perspective for a rental property.

I am just starting out in real estate and was evaluating a rental property(duplex) which is 1920 built & is having monthly cash flow of $400 andCOCROI as 16%. My biggest concern is with the age of property? Kindly help me with your wisdom.

It’s a semi-detached 2 unit has a new boiler, new hot water heater, vinyl replacement windows, brand new exterior doors, completely renovated 1st floor- 1 bedroom unit - features a living room with a fireplace and granite in the kitchen, ducted for central A/C.

The 2nd floor-2 bedroom unit has central A/C.

There is W/D hook up in the basement, and also a W/D hook up for the upstairs unit (would need stacked small unit to fit into space).

@Parampreet Singh

If the property has lasted for 100 years there is a good chance it can last for 50-75 more if maintained.

In my area old houses are very common and just the standard investment.

The main things to check out in old houses are wiring, plumbing, and foundation.

Good luck!